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- PumpFun saw an 80% drop in token graduations, with only 200 tokens making it on February 26, down from nearly 1,200 in January.
- Recent statistics reveal PumpFun’s declining token success rate, raising concerns about its sustainability and evolving approach to liquidity.
PumpFun, the memecoin launch platform, is currently facing a number of issues that are upsetting its ecosystem. From a sharp decline in new token graduations to official account hacking, the platform appears to be having a tough time.
Furthermore, controversial within the community is PumpFun’s choice to test its in-house Automated Market Maker (AMM). Is this thus merely a transitional period, or the beginning of the end?
PumpFun Faces Confidence Collapse as Listings Drop
PumpFun was still thriving in January 2025, having hundreds of tokens pass the “bonding curve” procedure and find their way to decentralized exchanges (DEXs). Recent Dune statistics, however, indicate that this figure has plummeted by over 80%. Just about 200 tokens made it to the graduation stage on February 26, 2025.
It is evident from the almost 1,200 tokens that made it to DEXs in a single day at its height in January how significant a change has been.
Many hypothesize that the declining confidence in PumpFun is the reason behind the declining amount of successfully launched coins. The platform has certainly been beset in recent months with a range of issues, from security to controversial new regulations not well received.
Security Breach Exposes Vulnerabilities in Crypto Space
As if the drop in activity was insufficient, the official X account of PumpFun was hacked on February 26, 2025 as well. Rapidly using this access, hackers promoted fake “PUMP” tokens claiming to be the legitimate governance token for the platform. This is obviously a deadly trap for less alert people.
The PumpFun crew instantly advised its local not to interact with the account till the matter was under control. They also confirmed that they are presently making great effort to take charge of their finances. Nevertheless, this event emphasizes how very vulnerable even blockchain-based platforms are to cyberattacks.
A Risky Move: Breaking Away from Raydium?
CNF previously reported PumpFun was trying its own in-house Automated Market Maker (AMM). This choice is supposed to help tokens born in the PumpFun ecosystem become less dependent on Raydium, which has been their main source of liquidity.
Still, not everyone concurs with the new path followed. Among Raydium’s main contributors, InfraRAY thought regarded the decision as a “strategic mistake.” According to him, trying to build their own AMM without sufficient experience could backfire on PumpFun.
The trust that has been built through the partnership with Raydium could be threatened, and the impact would certainly be no joke.
Bybit Hackers Exploit Platform for Rapid Trades
Apart from internal problems, PumpFun was caught in another controversy about the Bybit hack. The hackers involved in this case were known to have used PumpFun to launch a memecoin called ‘QinShihuang.’ In just three hours, they managed to execute $26 million worth of trades before finally being detected and removed from the platform.
Although PumpFun’s fast token removal is admirable, this occurrence also begs further concerns. Exist enough security systems to stop future similar exploits? Should no specific action be taken, PumpFun might remain a hub for like practices.
