Hackers breach Pump.fun memecoin platform, raising security concerns in crypto industry

Hackers infiltrated the X account of the memecoin platform Pump.fun on February 26, sparking concerns about security within the memecoin and crypto industry. Pump.fun has since regained control of its X account and clarified that their staff are not at fault, as they adhered to industry best practices to mitigate risks. The breach at Pump.fun may have been orchestrated by the same hackers responsible for other similar attacks, as suggested by blockchain analysts like ZachXBT. While the incident at Pump.fun was swiftly resolved with minimal impact, memecoins are now under heightened scrutiny regarding security vulnerabilities. Following the breach at Pump.fun, hackers also targeted Jupiter DAO and DogWifCoin, offering a counterfeit governance token to potential victims.