Where Did the Pump.fun Rumor Come From?

Over the weekend, a user on platform X, going by the handle “camol,” alleged that the $PUMP token smart contract lacks a withdrawal function. According to the post, this supposedly meant that the raised funds were inaccessible forever because the contract is immutable.

“This effectively means the $500 million is locked forever,” the user stated, drawing over 780,000 views. In follow-up posts, they insisted on the claim, citing obscure technical jargon like “JSON SQL SUGARTOWN ORA CORES SECURITY” to support their argument.

Hacken Responds: The Funds Are Not Locked

Crypto security firm Hacken provided a detailed technical response to clarify the situation. According to their analysis, there are actually two separate Pump.fun token PUMP deployed on the Solana blockchain—one of which is a test or fake token with negligible activity, and another which is the official token linked to the real presale.

Hacken confirmed that the official token has over 10,000 holders and matches the public tokenomics disclosed by Pump.fun. While it’s true that the smart contract does not include a “withdraw” function, this is completely normal for both Solana SPL and Ethereum ERC-20 token standards. These contracts are not built to hold funds like vaults—they simply manage balances and transfers.

“Since there was no DEX listing at launch, the lack of a ‘withdraw’ function is irrelevant,” Hacken stated, dismissing the fears as technically inaccurate. They further verified that the on-chain token distribution aligns with public data—15% of tokens sold during the ICO, and the remaining 85% held in developer-linked wallets, reflecting a transparent allocation process.

The ICO Sold Out in Just 12 Minutes

Pump.fun’s initial coin offering (ICO), held last Saturday, was an overwhelming success—selling out in just 12 minutes and raising a total of $500 million.

According to the official tokenomics:

• 33% of the total supply was allocated for the ICO

• 24% is reserved for the ecosystem and future development

• 13% was allocated to existing investors

Of the ICO allocation, 18% was sold to institutional investors, while 15% went to retail participants.

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The post Claims That Pump.fun’s $500M Funds Are Locked Proven False appeared first on Coin Engineer.