Former Solana-based Pump.fun employee arrested after $1.9 million crypto exploit
The attacker advised the community to withdraw their assets from Pump.fun, while threatening further legal action.
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 tweet, Dunn highlighted that the company considered the total value locked (TVL) as their money in the charges against him. He urged users to withdraw their funds from the platform and disclosed that Baton Corp is the corporate entity behind Pump.fun
