Pump.fun Exploiter Arrested in UK

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A person who used to work for pump.fun, a platform for creating and trading memecoins, has been arrested and is currently out on bail in the United Kingdom for allegedly exploiting the system for $1.9 million.

On May 16, an individual using the username “STACCoverflow,” later identified as Jarett Dunn, admitted to carrying out the attack.

According to pump.fun, Dunn used his “privileged position” to gain access to the withdrawal authority and hack into the platform’s systems.

In a series of posts on May 18 using a different username, Dunn shared that he had spent the night in police custody and was charged with “theft from employer” for $2 million as well as conspiring to steal an additional $80 million.

He also mentioned being released on bail and being placed under a mental health section. Dunn revealed that he is currently hospitalized and posting from an iPad provided to him by the hospital. He stated that his mental health has been questioned and he may not be fit for police interrogation until after his bail period.