The post pump.fun Crypto Platform Resumes Operations After Employee Misappropriation Incident appeared first on Coinpedia Fintech News
Pump. fun, one of the well-known cryptocurrency platforms, has resumed business after it discovered approximately $ 12.3k SOL valued at $1. 9 million stolen by a former employee.
A former employee who was overworked for a long time wished to do something evil and make money at the same time by abusing his privileges.
Detailed Rundown
The incident began at 15:21 UTC, when a fun employee, exploiting their access to withdrawal authority, used flash loans on a Solana lending protocol to Borrow SOL. The entire amount stolen was acquired through flash loans.
The attacker Happened to be holding various coins in the platform, thus determined to bring their value to the target of 100% through manipulated markets
At zero per cent, the employee hit the ceiling of the bonding curve liquidity. The advantage which comes with the flash loan is the abili
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