Pump.fun platform hacker arrested in London
Date: 2024-05-20 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
A former employee of the Pump.fun platform, Jarrett Dunn, known on the social network X (formerly Twitter) under the nicknames Free Stacc and StaccOverflow, was detained in London. He is suspected of involvement in the theft of $1.9 million from the platform. After his arrest, Dunn was released on bail, but soon found himself in hospital. The reasons for his hospitalization are not specified.
Accusations and legal threats
The Pump.fun team accuses Dunn of using administrator access to withdraw funds. The developers claim that the ex-employee intended to steal not only $1.9 million, but also a much larger amount - $80 million. Dunn categorically denies his involvement in the hack and threatens the project with legal action.
Dunn said he plans to remain in the UK until his trial, scheduled for August 2024. He called on British citizens to press charges against Pump.fun, alleging that the platform was operating as an unregistered exchange. Other charges Dunn brought against the Pump.fun team included tax evasion, defrauding users and distributing child pornography.
Pump.fun team reaction
Representatives of Pump.fun did not comment on the former employee’s statements. Currently, the developers continue to investigate the hack together with cybersecurity experts.
Hacking context
On May 16, 2024, the Pump.fun platform, where users can create memecoins on the Solana network, suffered an exploit that resulted in the theft of 12,300 SOL, which is approximately $1.9 million at the time of the attack.
The US Department of Justice recently charged two brothers with stealing $25 million worth of crypto assets in 12 seconds, highlighting the scale and speed at which cyberattacks can occur in the crypto space.
