Pond.Fun was hacked by an insider. Chain melting and ellipse were tapped to block fund withdrawal

Pond.fun is Meme Coin Launchpad hosted on Linea, hacked by the project’s chief software engineer.

According to official disclosures about Pond.Fun’s X, Pond.Fun was hacked this morning, with first chain and off-chain evidence pointing to the software engineers of Pond.Fun’s team. The platform has instructed users to avoid interaction with the pond with all abilities, including eFrogs and Croak websites, but has ensured that Discord and Telegrams are still safe.

The attacker stole liquidity from Pond.Fun’s smart contract and transferred the token to the privacy protocol Railgun. Privacy protocols have enabled users to protect transactions on the blockchain. The platform has published a list of mainnet addresses that have been received and deposited after receiving stolen assets. The total amount transferred was 64.8 Ethereum (ETH).

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Pond.Fun tapped a chain dialysis and oval blockchain analysis company that tracks illegal crypto transactions and helped prevent stolen funds from passing on evidence of innocence. Failing the PAS POI check ensures that hackers cannot withdraw funds from Railgun.

This situation was also done by insiders, which reflects a recent hack from Stablecoin Bank Infini. Specifically, developers who helped set up smart contracts retained the rights of administrators and used these rights to drain funds through Tornado Cash (Torn). Infini is still working to recover stolen assets. The hack emits nearly $50 million from Infini’s wallet and was identified as the second-largest loss in February by Certik.

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