Pump.fun funny exploit today

By Ticktalker | ticktalker'sblog | 16 May 2024

The crypto world is an ever interesting rollercoaster, let me share with your an exploit that happened today

Pump.fun was the victim

A Solana wallet was buying all tokens on Pumpfun within minutes to fill bonding curve to 100% and dumping it immediately.

You may be wondering how does that even make sense, how does he make profit….well, you will find out.

The attacker was using a flash loan from marginfi to buy tokens and dump them on people who snipe enter the sale.

Flashloan sol from marginfi, ape pumpfun memecoins and fill cap, launch token and if there are snipers who snipe on block 0, dump coins and return flashloan, if there are no snipers in block 0, then execution reverted.

How does it look from token side?

Some people going buy/sell it

And then stacc wallet - 7ihN8QaTfNoDTRTQGULCzbUT3PHwPDTu5Brcu4iT2paP

Buying the whole supply to 100% bonding curve

Probably attacker is using flashloans with pseudo trigger to get free Pumpfun tokens

1) get a loan

2) send loan solana to Pump.fun which never gets to PF because of a vulnerability.

3) close loan

4) have 100 SOL+ worth of free tokens

5) send it to raydium & dump it

Binance Hack exploit

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Ticktalker

I am a comic relief content creator and web3 enthusiast, I write contents to share things I learn and research about.

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