- Attackers hijacked a BONK.enjoyable staff account to deploy a pockets drainer
- Customers are urged to keep away from interacting with the Solana launchpad for now
- The platform’s market share had already fallen sharply earlier than the assault
A safety incident has hit BONK.enjoyable, the Solana-based meme coin launchpad beforehand referred to as LetsBONK. In response to the staff, attackers gained management of one of many venture’s accounts and used it to deploy a pockets drainer immediately on the web site. The exploit allowed malicious actors to try draining funds from customers interacting with the platform.
The staff has confirmed that the incident is at present beneath investigation and warned customers to keep away from interacting with BONK.enjoyable till additional discover. For now, anybody who related their pockets to the platform throughout the compromised interval is being urged to train warning whereas the staff works to safe the location.
BONK.enjoyable Rose Rapidly in Solana’s Meme Coin Ecosystem
BONK.enjoyable launched in April 2025 by way of collaboration between the BONK neighborhood and the Solana-based decentralized change Raydium. The platform was designed to simplify meme coin creation, permitting customers to launch tokens with out coding by way of a system powered by dynamic logarithmic bonding curves.
The idea shortly gained traction inside Solana’s meme coin ecosystem. By mid-2025, BONK.enjoyable had surged forward of opponents and managed roughly 84% of Solana’s token launchpad market, overtaking the extensively recognized Pump.enjoyable platform.
Market Share Declined as Competitors Intensified
Nevertheless, the platform’s dominance didn’t final. Engagement started declining as reward buildings grew to become tougher to maintain and the variety of profitable token launches slowed. On the identical time, rival platform Pump.enjoyable started recovering market share by way of aggressive buybacks, improved scaling infrastructure, and its acquisition of analytics platform Kolscan.
By the tip of 2025, BONK.enjoyable’s share of the Solana launchpad market had dropped to simply 7%, in line with Dune Analytics knowledge. The shift was additionally mirrored in income figures, with BONK.enjoyable producing roughly $84,000 in comparison with Pump.enjoyable’s a lot bigger $720,000 throughout the identical interval.
Payment Cuts Didn’t Maintain the Comeback Try
In early 2026, BONK.enjoyable tried to reignite curiosity by lowering creator charges to 0%, a transfer aimed toward attracting new token launches again to the platform. The change briefly boosted exercise, pushing income larger towards the tip of January.
The momentum proved short-lived. Pump.enjoyable shortly launched new incentives of its personal, permitting it to reclaim greater than 70% of the launchpad market by February. The most recent safety incident now arrives at a time when BONK.enjoyable was already struggling to regain its earlier dominance inside Solana’s quickly evolving meme coin ecosystem.
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