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pump.fun is suspected of a recent "mass withdrawal" of over $400 million, with no official announcements for over a week.
BlockBeats News, November 24th, according to EmberCN monitoring, the "pump.fun team address recently deposited 405 million USDC into Kraken in the past week. Then during the same period, 466 million USDC was transferred from Kraken to Circle (the USDC issuer), such operations are likely to be "cash out".
The source of the funds is the funding Pump.fun received from an institutional private sale of PUMP in June, when they sold to institutional investors at a price of $0.004 (which has now fallen below that price)."
Currently, the official X account of pump.fun has been silent for over a week without any updates, and its founder alon's X account was last active on November 12th.
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