Fun Pump exploiter criticizes ‘terrible managers,’ requests $100k compensation for non-creators

Huge demand for $100,000 payouts from the pump.fun exploit’ mastermind threatens burning of funds.

A recent incident involving a former employee gaining admin access to pump.fun, a popular Solana launchpad for memecoins, resulted in a loss of nearly $2 million. The culprit behind the exploit is now demanding $100,000 payouts for each contributor, excluding founders, and has threatened to burn the stolen funds if these demands are not met.

According to an update on May 17, the individual known as “Stacc” has made it clear that they are willing to destroy the tokens unless the pump.fun team complies with the demand for $100,000 to be distributed to non-founder contributors.

Information about the recipients of these payouts remains undisclosed, but Stacc believes that around seven people are eligible. No details about how the funds will be distributed or any deadlines have been provided by Stacc. As of now, there has been no official response from the pump.fun team regarding the situation.

After conducting a detailed assessment, pump.fun revealed that a former team member exploited their position in the company to misappropriate over 12,000 SOL tokens, valued at approximately $2 million. The team has committed to compensating affected users and has waived trading fees for the next week.

Reports have indicated that Stacc, the individual responsible for the exploit, referenced personal struggles, such as the loss of a family member and dissatisfaction with their superiors, as motives for their actions. Experts are concerned about the potential impact of this incident on the memecoin community within Solana, particularly due to pump.fun’s prominent role in this market.

🚀 Ailtra Crypto Bot Earned $13.4M Million in 11 Months with 0% Loss!

🚀 Ailtra generated $13.4M in 11 months only!

Unlock 15-55% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 15th Aug: an AI Crypto Bot boasting 15%-55% monthly gains and $13.4M earnings in 11 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,500 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.