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Pump.fun Denies Lookonchain's Allegations of Massive Asset Sell-off
11/24/2025, 13:37
AI SUMMARY
●• Pump.fun refutes Lookonchain's report of a $757M asset sell-off
●• Project clarifies that recent large transfers reflect internal treasury management
●• Lookonchain had previously flagged significant USDC and SOL movements to exchanges
The Pump.fun team has officially denied allegations made by on-chain analytics firm Lookonchain regarding a massive sell-off of user assets. Lookonchain had reported that the project transferred millions of dollars in SOL and USDC to Kraken, sparking fears of a liquidity exit.
Pump.fun clarified that the flagged transactions were part of routine internal treasury management and did not represent a dumping of tokens. They labeled the narrative circulating in the community as misinformation.
The incident underscores the market's sensitivity to large treasury movements. While on-chain data provides transparency, the lack of context for corporate transfers often leads to rapid speculation and FUD.