Pump.fun blocks hacker linked to major Bybit breach, preventing laundering of 1.5 billion dollars through meme coin QinShihuang

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Pump.fun platform prevented an attempt by a hacker connected to the major Bybit exchange breach from launching tokens to launder stolen funds. The attacker used wallet 5STkQy…95T7Cq to transfer 60 SOL to wallet 9Gu8v6…aAdqWS, from which the meme coin QinShihuang (500000) was launched on Pump.fun, which could have been an attempt to hide the stolen funds. As a result, hackers stole more than 400,000 ETH worth around 1.5 billion dollars from Bybit's cold wallet. The exchange quickly reassured users, stating the safety of funds thanks to the 1:1 reserve system.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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