BONK.fun Team Account Breach Deploys Wallet Drainer on Solana Launchpad
A security breach at BONK.fun deployed a wallet drainer, putting users' funds at risk and exacerbating the platform's declining market share.Summary
BONK.fun, a Solana meme coin launchpad, experienced a team account breach that resulted in the deployment of a wallet drainer. The platform warned users to cease all interaction with the website. This incident occurs as BONK.fun has been losing market share to rival Pump.fun, dropping from 84% in mid-2025 to approximately 7% by year-end. Users who interacted with the site after the breach are at risk of losing their funds. The BONK token price decreased by 0.9% following the announcement. Pump.fun has seen significant growth, recapturing over 70% of the Solana launchpad market by February 2026, largely due to buybacks, upgrades, and acquisitions. The breach highlights the importance of multi-factor domain protections for token launchpads.
(Source：BeInCrypto)