As a researcher with extensive experience in blockchain technology and decentralized finance, I must admit that the recent incident at Pump Science left me quite disheartened. It’s not often that we see such a prominent DeFi platform stumble, especially one focused on life-changing medicines like Rifampicin and Urolithin A.
Pump Science, the decentralized science platform, has issued an apology to its users following the disclosure of their private key on GitHub. This unfortunate incident allowed a recognized hacker to generate false tokens under the Pump.fun account.
In the AMA session held on November 27th, Benji Leibowitz from Pump Science stated that they fully understand and accept the significant error they made, and they don’t intend to downplay how big a mistake it was.
“This absolutely will not happen again,” he said, adding:
“We’re never gonna launch tokens on pump.fun ever again.”
Previously, on November 25th and 26th, Pump Science disclosed in several posts that the private keys associated with its Pump.fun profile (pscience) were exposed on GitHub. This incident enabled a hacker to exploit these keys, fabricating false tokens such as Urolithin B to Urolithin E ($URO) and $COKE (Cocaine).
“Do not trust any new tokens launched from the pscience PumpFun profile,” Pump Science stressed.
“These were not created by our team and this wallet is compromised.”
After the recent event, Pump Science modified their Pump.fun profile name to “dont_trust” as a precaution against further sales of suspicious tokens. They also announced they’ve teamed up with blockchain security company Blockaid to identify and flag any future mints originating from this address.
Partially attributing the incident to BuilderZ, Pump Science pointed out that they had carelessly exposed a private key for the developer’s wallet address “T5j2U…jb8sc” within their GitHub code. This oversight resulted from an assumption that the keys were intended for the test wallet instead of the actual developer wallet.
On the DeSci platform, it was argued that the assailant wasn’t BuilderZ, as the method used to transfer the tokens onto Solana’s blockchain differed from his usual approach.
Instead, Pump Science posits that the hacker might be identical to the individuals or group who previously hacked the digital wallet belonging to James Pacheco, one of the founders at the Solana-based commodity tokenization platform “elmnts.
According to the DeSci protocol, they plan to thoroughly examine their user interface (UI), perform penetration testing on the protocol for upcoming versions through a bug bounty program, and investigate advanced methods for managing keys and enhancing overall security.
We’ll introduce new tokens onto Pump Science platform once we’ve thoroughly examined and verified the app and its smart contracts for security purposes. Fingers crossed, we aim to complete this process in time for the upcoming holiday season.
Pump Science’s platform allows the trading of tokens tied to longevity medicines.
Its only two tokens are Rifampicin (RIF) and Urolithin A (URO), which boast market caps of $85.6 million and $37.2 million, respectively, CoinGecko data shows.
Rifampin serves as a treatment for tuberculosis, whereas Urolithin A functions as a dietary supplement that influences the activity of mitochondria, possibly providing antioxidant and anti-inflammatory advantages.
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2024-11-28 03:27