A meme coin platform called Pond.fun got hit hard – a whopping $230,000 worth of Ether (ETH) was stolen! The culprit? Apparently, one of their own.
The Lead Engineer’s Shady Dealings
It looks like Genesis, Pond.fun’s lead engineer, is the prime suspect. He allegedly used his special access to drain the platform’s liquidity pools. To make things worse, he then used Railgun, a tool that hides blockchain transactions, to cover his tracks. Smart move for him, bad news for Pond.fun.
Warning Issued: Stay Away!
Pond.fun quickly warned everyone to stay clear of their website and related sites like Efrogs and Croak. They’re worried Genesis might have messed with those too. But don’t worry, their Discord and Telegram channels are still safe.
Tracking the Thief
Pond.fun’s not giving up. They’ve called in the big guns – Chainalysis and Elliptic, two companies that specialize in tracking crypto transactions. These guys have the tech to follow the stolen ETH and hopefully catch the thief.
Another Inside Job? This is Getting Serious
This isn’t the first time a crypto project has been hit by an insider. Just before the Pond.fun incident, a developer at Infini, a stablecoin neobank, stole almost $50 million! These incidents highlight a growing problem in the crypto world – the risk of insider attacks.
