Jarret Dunn, a former employee of Solana-based memecoin launchpad Pump.fun, is currently on bail in the United Kingdom following his recent arrest.
Dunn, also known by his online alias “STACCoverflow,” was apprehended shortly after a significant exploit on the crypto launchpad platform.
On May 16, Dunn, through the STACCoverflow social media account, admitted to an attack that resulted in approximately $1.9 million in losses for the Solana platform.
Pump.fun corroborated this, saying an ex-employee abused his position to withdraw funds and exploit the platform’s systems. It stated:
“At 15:21 UTC, a former employee, having illegitimately taken access of the withdraw authority using their privileged position at the company, used flash loans on a Solana lending protocol.”
Dunn’s arrest
On May 18, Dunn tweeted that he had spent the previous night in custody. He revealed that Pump.fun charged him with stealing $2 million and conspiring to steal an additional $80 million.
In his
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