Home Editor's Pick Alleged Pump.fun Exploiter Jarett Dunn Arrested in London

Alleged Pump.fun Exploiter Jarett Dunn Arrested in London

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The cryptocurrency community was rocked by news of the arrest of Jarett Dunn, the alleged mastermind behind the recent $1.9 million exploit of the Solana-based memecoin platform pump.fun.

Dunn, known online as @STACCoverflow, was apprehended by British authorities in London on May 18 following a meticulous 26-hour intelligence operation.

TLDR

The alleged mastermind behind the pump.fun exploit, Jarett Dunn (@STACCoverflow), was arrested in London on May 18.
Dunn was released on bail and is currently in a hospital, posting from a restricted iPad.
The arrest followed a 26-hour intelligence operation initiated by a third-party stakeholder who hired a private intelligence firm.
Dunn claims the pump.fun team alleges he stole $2 million and conspired to steal another $80 million.
Dunn is expected to remain in the UK until his court appearance, reportedly scheduled for August.

The operation, initiated by a third-party stakeholder who hired a private intelligence firm, leveraged social media posts and other publicly available information to track Dunn’s whereabouts.

Local operatives were deployed in a massive search that eventually led them to the Middle Eight Hotel in Covent Garden, where Dunn was found and taken into custody.

Interestingly, the timing of Dunn’s arrest coincided with his last social media post on X, where he hinted at his identity with the username @STACCoverflow, a play on the French phrase “j’arrête” (meaning “I’m done”) and his real name, Jarett.

https://x.com/jarettdunn/status/1791968019322638835

Following his arrest, Dunn was released on bail and is currently residing in a hospital, posting updates from a restricted iPad.

In a series of erratic posts on X, Dunn addressed the incident, claiming that the pump.fun team alleges he stole $2 million and conspired to steal another $80 million.

He also called for U.K. citizens to file charges against a company he identified as pump.fun’s corporate entity.

The pump.fun platform, which simplifies token launches on the Solana network, was exploited on May 16, resulting in a loss of over 12,300 SOL, valued at approximately $2 million at the time. T

he attacker used flash loans from Raydium, a Solana lending protocol, to manipulate the pump.fun bonding curves and withdraw liquidity meant for Raydium, making off with substantial profits.

Following the incident, pump.fun began working with law enforcement to investigate the breach. Igor Igamberdiev, head of research at cryptocurrency market maker Wintermute, suggested that an internal private key leak might have facilitated the hack.

Dunn is expected to remain in the UK until his court appearance, reportedly scheduled for August.

The post Alleged Pump.fun Exploiter Jarett Dunn Arrested in London appeared first on Blockonomi.

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