This is so heart-wrenching!
pump.fun has recently suspected 'withdrawals' exceeding $400 million, and their official Twitter account has been silent for over a week.
On November 24, according to EmberCN monitoring, the 'pump.fun team address has deposited 405 million USDC into Kraken over the past week. During the same period, 466 million USDC was transferred from Kraken to Circle (the issuer of USDC), such operations are very likely to be 'withdrawals'.
The source of funds comes from pump.fun's sale of PUMP to institutional private equity in June, at that time their price to institutional private equity was $0.004 (which has now fallen below that price)."
Currently, the official pump.fun X account has been silent for over a week, and its founder Alon's last active update on X was on November 12. $PUMP
