Debunked: Pump.fun’s $500M presale funds are not locked
2025-07-15 10:40:22
Main Idea
Claims that Pump.fun's $500 million presale tokens are locked due to a missing withdrawal function are false, as confirmed by detailed analysis and crypto security firm Hacken.
Key Points
1. Rumors spread that Pump.fun's $500 million presale tokens were locked because the smart contract was immutable, but these claims were debunked.
2. Crypto security firm Hacken clarified that two different tokens named 'Pump (PUMP)' exist on Solana, with only one being the legitimate PUMP token linked to the official ICO.
3. The legitimate PUMP token has over 10,000 holders and aligns with official distribution announcements from Pump.fun.
4. Pump.fun raised $500 million in an ICO that sold out in 12 minutes, with 33% of the total supply allocated to the ICO, 24% for the ecosystem, and 13% for existing investors.
5. The analysis confirmed that the funds were not locked or lost, and the withdrawal function's absence is common for Solana SPL and Ethereum ERC-20 tokens.
Description
Spreading claims that Pump.fun’s $500 million presale tokens are locked due to a missing withdrawal function are false.
Latest News
- Bitcoin bear Vanguard is now the largest shareholder of Strategy2025-07-15 18:33:04
- Bitcoin profit taking sets traders’ buy target at $113K: Will a rally to new highs follow?2025-07-15 18:16:37
- Trump calls for GENIUS Act to pass Tuesday, despite reports of later vote2025-07-15 18:02:45
- Kraken launches US crypto derivatives platform in wake of NinjaTrader acquisition2025-07-15 17:48:57
- New Zealand woman accused of killing mother after stealing cash for crypto2025-07-15 17:01:30