BONK.fun team account hacked and used to launch wallet drainer on site
Users warned to revoke approvals and migrate tokens as security breach threatens Solana-based launchpad.
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Add us on Google by Vivian Nguyen Mar. 12, 2026BONK.fun, a Solana-based meme coin launchpad formerly known as LetsBONK, said Thursday that attackers took over a team account and used it to run a wallet drainer on the site.
The incident is under investigation, and users are urged to stop interacting with the website until the team confirms the platform is secure.
A malicious actor has compromised the BONKfun domain, do not interact with the website until we have secured everything.
— BONK.fun (@bonkfun) March 12, 2026
Launched in April 2025 by the BONK community alongside Raydium, BONK.fun allows users to deploy tokens without coding using dynamic logarithmic bonding curves.
The platform rapidly overtook Pump.fun to command 84% of Solana’s launchpad share by mid-2025.
However, engagement dropped as reward mechanisms became difficult to sustain and successful token launches slowed, while Pump.fun rebounded with major buybacks, its acquisition of Kolscan, and better scaling capacity.
By the end of 2025, BONK.fun controlled only 7% of the market, according to data from Dune. Its revenue also declined to around $84,000, while Pump.fun’s revenue topped $720,000.
BONK.fun reduced creator fees to 0% in early 2026 to reignite growth, leading to a brief surge in revenue toward the end of January. The momentum faded soon after as Pump.fun responded with new incentives, allowing it to regain over 70% of the market by February.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
