• Ex-employee arrested in $1.9M crypto exploit.

  • Blames platform, claims innocence.

  • Legal case ongoing, restrictions imposed.

Jarett Dunn, a former employee of the Solana-based memecoin launchpad pump.fun, has publicly disclosed his recent arrest by London Police in connection with an alleged $1.9 million exploit at the platform. Dunn, who uses the online aliases “staccoverflow” and “freestac,” detailed his arrest and subsequent release on bail in a series of social media posts.

My name is Jarett Dunn. Loosely translated I stop full stop.

— 🔥🪂staccoverflow ; j'arrête ; (@STACCoverflow) May 17, 2024

Following the theft of $1.9 million in funds, pump.fun accused its former employee as responsible for the exploit, claiming that he misappropriated nearly 12,300 SOL using his privileged position.

Through his online posts, Dunn explained his arrest and its aftermath, stating that he was hospitalized following the incident. He further claimed, “Authorities detained me on suspicion of stealing $2 million of what pump.fun alleges are ill-gotten gains, with plans to steal an additional $80 million.”

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. /x https://t.co/D8CBjdB9nG

— free stacc (@jarettdunn) May 18, 2024

Dunn also stated that he would be required to attend a police interview due to his mental state, which he claims has deteriorated significantly. He urged investors to withdraw their funds from pump.fun, alleging that the platform misrepresents its Total Value Locked (TVL) as legitimate funds. Additionally, he encouraged UK citizens to file legal complaints against the company.

A private investigation firm, The Rollup, has provided updates on the case following a thorough examination of Dunn’s situation. According to their findings, Dunn was released on bail by UK police and is required to return in August. He is reportedly subject to restrictions on communication with certain individuals. 

While the circumstances surrounding the alleged $1.9 million exploit at pump.fun remain murky. Jarett Dunn, who faces accusations and legal proceedings, his claims of innocence and allegations against the platform raise questions about the incident’s true nature.

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