Pump Fun Exploiter Nabbed by UK Authority, Released on Bail

Key takeaways:

• British law enforcement in London has captured a person who is thought to be responsible for the Pump Fun incident.
• Dunn allegedly stated that he had to report back to a police station in August.

Claiming to have executed a recent $1.9 million exploit, the ex-employee of memecoin production and trading platform Pump Fun says he was detained, charged, and is currently free on bail in the United Kingdom.

According to a post on X, British law enforcement in London has captured a person who is thought to be responsible for the Pump Fun incident. Dunn allegedly stated that he had to report back to a police station in August. According to the account, Dunn was located in London through the use of a private spy agency.

The person who is suspected of attacking Pump Fun, Jarett Reginald Dunn, was later freed on bond and went by the handle @STACCoverflow.

Canadian native Dunn stated that his family received an email from the local embassy with “a list of lawyers,” but he added that he is “not able to communicate with them” until he gets his gadgets back, of which “2/5 are seized.”

He said he was still in possession of his passport and that the government had not warned him that he was not permitted to exit the nation.

Dunn called for UK individuals to press charges against a local business he claimed to be a Pump Fun corporation in another X post, claiming that his bail restrictions prevented him from getting in touch with the company or its CEO.

Pump Fun is a well-known site that releases meme coins on Solana. Pump Fun was the target of the hack, which compromised the protocol and stole about $1.9 million worth of SOL tokens. 

On-chain experts have discovered that the Pump Fun attacker used bonding curve contracts to divert money meant for the Solana decentralized exchange Raydium to unrelated wallet addresses.

Notably, not long after the attack, a former employee of Pump Fun boasted about their acts and admitted they could face jail time on X.

Pump Fun reopened after the event, with around $45 million in affected liquidity. The group declared a 0% trading cost for the following seven days, reintroduced the contract, and started trading again. In spite of the setback, Pump Fun is working hard to rebuild confidence and stability on its platform.