Crypto King Arrested and Solanas Pump.Fun Crypto Theft…
Journalist
- Major attacks on Solana’s Pump.fun, Stack-based ALEX and Solana’s Pump.fun.
- Arrest of two brothers in connection with a $25 million Ethereum scam by the US Department of Justice
This week, crypto regulations and exploits dominated the market headlines. The exploits, which range from Solana’s Pump.fun and Bitcoin’s L2 ecosystem, have gobbled up millions of dollars.
Pump.fun, Solana’s memecoin launcher, was hacked on Thursday, resulting in a loss of about $2 million, according to Wintermute’s head of research Igor Igamberdiev.
The attack was surprising as it came just hours after the platform achieved record revenue and overtook Solana (its L1 security) on the blockchain.
Pump.fun claims that a former employee compromised the platform. The memecoin launcher will announce a return to normal operations shortly.
“The Pump.fun contracts were always safe. They were always safe. Former employee embezzled 12.3K ($1.9 million).
More arrests and crypto hacking
Yesterday, Solana was not the only ecosystem affected by an exploit. A second attack was registered against the Bitcoin ecosystem project ALEX – an automated liquidity exchange based on Stacks [STX]a BTC L2 scaling solution.
The “interesting” thing about the attack A compromised private key was also responsible for draining several assets, including 13.7 million STX.
The project recovered some funds and asked Stacks to destroy the accounts linked to stolen STX funds. Stacks co-founder Muneeb Al The request is cited.
The compromise of ALEX’s private keys is unfortunate. “There is no clear contract exploit or issue.”
How the remaining lost funds from Pump.fun, ALEX and ALEX will be recovered remains to be seen.
During this time, there were important arrests and indictments for some crypto crimes that are still ongoing. The US Department of Justice, for example. Two brothers are accused of an attack on the Ethereum network. James Pepaire and Anton Peraire Bueno are accused of stealing $25 million using sophisticated MEV (Maximum Extraction Value) bots. This is the first lawsuit filed by the Department of Justice against MEV.
Aiden Pleterski, the controversial “Canadian crypto king,” was arrested by Canadian authorities in recent weeks. Pleterski is believed to have run a crypto investment scam as recently as February, despite having filed for bankruptcy more than a year earlier for similar schemes that saw investors lose over $40 million. According to a report, Pleterski was arrested and charged with money laundering. Pleterski was released on bail after his arrest.
