PumpFun removed tokens linked to the Bybit hacker after discovering their role in laundering stolen funds through rapid memecoin trading.
The Bybit hacker used PumpFun to launch the memecoin ‘QinShihuang,’ executing trades worth $26M within three hours before being flagged and removed.
PumpFun, a Solana-based platform that has made news for its quick expansion in the memecoin space, recently removed tokens linked to the Bybit hackers from its homepage. The ruling followed revelations that Lazarus, a North Korean cyber organization, developed the memecoin to launder stolen funds from the Bybit crypto platform.
JUST IN: PUMPFUN JUST REMOVED MEMECOINS RELATED TO THE BYBIT HACKER FROM FRONTEND
Source: Whale Alert pic.twitter.com/Z0VD0Ye0sR
— Mario Nawfal’s Roundtable (@RoundtableSpace) February 23, 2025
Memecoin as a Tool for Laundering Funds
A recent investigation found that the Lazarus hackers created a token called “QinShihuang” on the PumpFun platform. Following their
