Pump.fun isn’t playing around when it comes to shady activity. The platform recently blocked a hacker linked to the massive Bybit exploit from launching tokens, cutting off an attempt to launder stolen funds. Before getting flagged, the hacker had already managed to push over $26 million in trading volume through a memecoin called “QinShihuang (500000).”
Blockchain records show that the Bybit exploiter, using wallet 5STkQy…95T7Cq, sent 60 SOL to another wallet, 9Gu8v6…aAdqWS. That second wallet then launched the QinShihuang token on Pump.fun, likely as part of an effort to disguise the stolen funds through memecoin trading.
Hackers pulled off a huge theft at Bybit, one of the biggest crypto exchanges, swiping over 400,000 Ethereum (ETH) worth about $1.5 billion from one of its cold wallets. This is easily one of the biggest exchange hacks ever.
But Bybit didn’t panic. They quickly reassured users that their funds were completely safe, thanks to their 1:1 reserve system. Withdrawals and trading kept running like normal, making it clear they weren’t letting the hack slow them down.
Also Read: Explained: Track Bybit Ethereum Tokens Movement Post Hack Here
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