- BONKfun processed over $34 million in volume within 24 hours of relaunch.
- The attack was a social engineering scam, not a hack of code or wallets.
- The platform restored access quickly and pledged 110% compensation to affected users.
Solana-based meme coin platform BONKfun posted its highest launchpad activity since January. The platform processed more than $34 million in volume within 24 hours of going live again.
The sharp increase suggests users quickly returned after services were restored. The comeback comes shortly after the platform experienced a domain hijack incident.
Social Engineering Attack Caused Domain Hijack
BONKfun went offline on March 11 after an attacker used social engineering to gain control of the platform’s domain. The attacker convinced the domain provider to transfer the website to an external registrar.
The incident did not involve a smart contract exploit or wallet breach. BONKfun confirmed that internal systems, codebase, and team accounts were not compromised.
Once the issue was detected, the platform shut down access and worked with wallet providers including Phantom, Solflare, and MetaMask to flag the domain.
The domain was recovered on March 18, and full functionality was restored the following day.
Platform Promises 110% Compensation
Total customer losses from the incident are estimated at $30,000. BONKfun said it will reimburse every affected user at 110% of their losses to account for the opportunity cost of being unable to use the platform during the outage.
The platform acknowledged that some antivirus software providers are still flagging its primary domain, BONK.fun, as potentially dangerous. While it works to remove those flags, users experiencing access issues have been directed to letsBONK.fun, an alternative address with identical functionality.
Despite the platform’s strong return, the BONK token itself is not celebrating. The coin is down 0.68% to $0.00000581 in 24 hours, tracking a broader market decline driven largely by geopolitical tension after President Trump issued a 48-hour ultimatum to Iran over the Strait of Hormuz.
Related: A Shift in Solana’s Memecoin Market: LetsBonkFun Overtakes Pump.fun
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/bonkfun-hit-34m-in-volume-after-social-engineering-attack/
