The Pump.Fun account based on Solana was breached to promote a fraudulent token.
Pump.Fun Account Attack
Early morning on Wednesday, the official Pump.Fun account posted a fraudulent token intended to 'reward' users. Social media quickly reacted with warnings about the potential threat.
Response to the Attack
Pump.Fun's team swiftly regained account access and announced ongoing monitoring. Interestingly, no emails were sent to the account's address, which was secured with 2FA, and no phone numbers were associated with the account. The team suggests that social engineering targeting platform employees might be the cause.
Rise and Evolution of Hacking Techniques
Recent incidents highlight increased occurrences of platform account breaches. Hackers often use social engineering, gaining trust to access critical accounts. Recently, a similar breach was recorded of Time magazine's account for similar purposes.
Security threats in social networks continue to concern users and companies. Companies must be more vigilant and take additional steps to protect their accounts.
