A former employee accused of exploiting the memecoin platform Pump.fun for $1.9 million claims he was arrested and charged in the United Kingdom and is now out on bail.
Allegations and Arrest
Jarett Dunn, known on social media as “STACCoverflow,” publicly admitted on May 16 to being behind the recent exploit on Pump.fun. The platform alleges Dunn abused a “privileged position” to access a “withdraw authority,” compromising the system and facilitating the $1.9 million theft.
Detention and Bail
In a series of posts on May 18 from a different social media account, Dunn detailed his overnight stay in police custody. He claimed the Pump.fun team accused him of stealing $2 million and conspiring to embezzle an additional $80 million. Dunn stated he was released on bail and has been placed under mental health supervision. He is currently in a hospital, posting updates from an iPad provided to him. He expressed concerns about his mental fitness for a police interview, which might be postponed until he is deemed fit for questioning.
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Legal Complications and Communication Issues
Dunn, a Canadian citizen, mentioned that his local embassy had contacted his family with a list of lawyers. However, he claimed he could not communicate with them until he regained access to his devices, two of which have been seized by authorities. Despite holding onto his passport, Dunn was not warned against leaving the country.
Future Legal Obligations and Public Appeals
Dunn informed another social media user, The Rollup, that he must return to the police station on August 15. He also claimed that a private intelligence company was hired to locate him in London. Furthermore, Dunn urged UK citizens to file charges against a local company he identified as associated with Pump.fun. His bail conditions prohibit him from contacting the firm or its CEO.
