Debunked: Pump.fun’s $500M presale funds are not locked

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.