A former employee of the memecoin creation and trading platform, pump.fun, allegedly responsible for a recent $1.9 million exploit, claims to have been arrested, charged, and is currently out on bail in the United Kingdom. The individual, known as “STACCoverflow” online and later confirmed to be Jarett Dunn, accepted responsibility for the exploit on May 16. Pump.fun accuses Dunn of exploiting a “privileged position” within the company to access a “withdraw authority” and compromise its protocols.
On May 18, Dunn detailed his recent experiences in a series of posts from a different social media account. He described spending a night in police custody as the pump.fun team claimed he had stolen $2 million and had plans to embezzle an additional $80 million. He further revealed that he was released on bail but was sectioned under mental health provisions. Currently residing in a hospital, Dunn is making online posts using an iPad issued to him by the authorities.
According to Dunn, his mental health condition was seriously questioned, leading to doubts about his fitness for a police interview. He speculated that an interrogation might only occur once he is deemed mentally fit. As a Canadian citizen, Dunn mentioned that the local embassy has sent his family a list of lawyers. Communication with his family remains challenging until he regains possession of his devices, two out of five of which have been confiscated by the authorities.
Despite the serious allegations against him, Dunn retains his passport and claims that the authorities have not explicitly restricted his travel outside the country. He mentioned in a message to another social media user that he is due to return to a police station on August 15 for further proceedings. Additional complications arose when it was reported that a private intelligence company was hired to locate Dunn in London.
Amidst the ongoing legal battle, Dunn has been urging U.K. citizens to file charges against a company based locally, which he alleges is associated with pump.fun. One of the bail conditions imposed on Dunn restricts him from any form of communication with this company and its CEO.
Pump.fun has yet to respond to inquiries regarding Dunn’s claims and the situation surrounding the supposed exploit. Similarly, the private intelligence firm allegedly involved in Dunn’s apprehension has not provided any comments or clarifications.
This development has sparked considerable debate within the crypto community, with varying opinions on the ethical and legal ramifications of Dunn’s actions and the company’s response. The unfolding drama continues to draw significant attention as both sides present their versions of the events.
As the investigation proceeds, it remains to be seen how Dunn’s legal and mental health challenges will impact the final outcome. The case serves as a potent reminder of the complexities and potential vulnerabilities within the emerging world of cryptocurrency and decentralized finance.
Best of luck to Dunn through his legal and mental health journey. 🍀🙏
An individual with such a profile should never have been left with so much unchecked power. Major governance fail by pump.fun. 😟
Sending positive vibes to Jarett Dunn during this challenging period.
No matter his mental health status, Dunn knowingly exploited the system. Accountability shouldn’t waver. 🧐
Another reminder that the digital world can have real-life consequences.
The fact that he has access to devices and can post online is infuriating . Shouldn’t he be heavily monitored?
His call for legal actions against another company while under investigation reeks of deflection tactics. Stay focused on the real issue!
Praying for a balanced and humane outcome for Dunn and all parties involved.
This situation highlights the need for better internal controls in companies like pump.fun. 🛡️🔒
Crazy story! Can’t believe how quickly things can escalate in the crypto world.