Pump.fun bans Bybit hacker from laundering money by memecoins
Pump.enjoyable isn’t enjoying round relating to shady exercise. The platform not too long ago blocked a hacker linked to the large Bybit exploit from launching tokens, reducing off an try and launder stolen funds. Earlier than getting flagged, the hacker had already managed to push over $26 million in buying and selling quantity by means of a memecoin referred to as “QinShihuang (500000).”
Blockchain data present that the Bybit exploiter, utilizing pockets 5STkQy…95T7Cq, despatched 60 SOL to a different pockets, 9Gu8v6…aAdqWS. That second pockets then launched the QinShihuang token on Pump.enjoyable, probably as a part of an effort to disguise the stolen funds by means of memecoin buying and selling.
Hackers pulled off an enormous theft at Bybit, one of many largest crypto exchanges, swiping over 400,000 Ethereum (ETH) value about $1.5 billion from one in every of its chilly wallets. That is simply one of many largest alternate hacks ever.
However Bybit didn’t panic. They shortly reassured customers that their funds had been utterly protected, due to their 1:1 reserve system. Withdrawals and buying and selling stored working like regular, making it clear they weren’t letting the hack sluggish them down.
Additionally Learn: Explained: Track Bybit Ethereum Tokens Movement Post Hack Here
