Former Employee Arrested in $2 Million Pump.fun Exploit
- Jarrett Dunn, the former employee of Pump.fun, has been arrested in the U.K. and is currently out on bail.
- Following accusations of stealing $2 million and plotting to steal $80 million, Dunn is reportedly undergoing a mental health evaluation.
Pump.fun has been making headlines for the past few days. The Solana-based token launch platform was reportedly breached on May 16. The attacker, believed to be a former employee, used flash loans to obtain enough SOL to buy the bonding curve for pump.fun memecoins, resulting in an estimated $2 million loss.
For further clarity, an X (formerly Twitter) user with the handle "STACCoverflow," whose real name is reportedly Jarrett Dunn, admitted to executing the exploit.
Former https://t.co/6Mi2TeV9dL employee orchestrates $2M loss through admin privileges, causing uproar in hashtag#crypto community. The exploit involved flash loans to hijack the platform’s memecoins. https://t.co/6Mi2TeV9dL swiftly responded, fortifying its defenses.
— Newzchain, a Blockchain Powered Media Platform (@NewzchainHQ) May 17, 2024
Know all… pic.twitter.com/uFOwVjtkwM
Now, what happened in the next episode of this whole exploitation incident is that the former employee has claimed that he was arrested, charged, and is now on bail in the U.K.
BREAKING:@pumpdotfun exploiter @STACCoverflow has been arrested by British law enforcement and is currently in custody.
Here's the TLDR👇 pic.twitter.com/EgvYFkRxe0
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Dunn, using a different X account, asserted that he spent the night in custody as the pump team accused him of stealing [$2 million] and conspiring to steal another $80 million. He also added that he was released on bail and placed under a mental health section.
I am once again without any of my 2fa for a lil while. I spent overnight in custody as the pump team alleges I stole 2m of their Ill gotten gains with conspiracy to steal another 80m.
— free stacc (@jarettdunn) May 18, 2024
/x https://t.co/D8CBjdB9nG
Additionally, Dunn is currently in a hospital and is posting from an iPad provided to him there. He also mentioned that his mental health was taken into question and he was likely unfit for an interview.
Edited by Harshajit Sarmah
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