ME News reports that on October 26 (UTC+8), Shaw, founder of ai16z, further detailed the Pump.fun smart contract reverse engineering initiative on X, stating that the goal is not to develop a contract with similar functionality, but to recreate an exact byte-for-byte replica of the original contract, including its existing vulnerabilities and flaws. He called on developers to leverage AI tools to participate in the reverse engineering effort and to continue contributing code via GitHub.
Shaw pointed out that closed-source smart contracts hinder security audits and noted that over $40 million in funds have been lost in the past year due to critical security vulnerabilities in closed-source contracts. He believes that promoting open-source contracts helps developers and AI identify and report potential vulnerabilities.
In addition, Shaw plans to offer as bounty rewards the tokens previously repurchased using Meme coin fee income, distributing them to contributors involved in reverse engineering.
Previously, Shaw, founder of ai16z, posted on X that he has completed 90% of the reverse engineering work on Pump.fun’s contracts, expects to finish everything tonight, and stated, "Open source everything, or it will be forcibly open sourced." (Source: ODAILY)
ai16z Founder Shaw Aims for Byte-Level Consistency in Pump.fun Contract Reverse Engineering
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Summary
Meme coin news broke as AI16z founder Shaw detailed his plan to reverse engineer the Pump.fun contract at the byte level, including its vulnerabilities. He emphasized the importance of open-source contracts to prevent security breaches, which have resulted in over $40 million in losses this year. Shaw also plans to use token fees from meme coin transactions to fund bounties for contributors.
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