2024-5-20 05:18 |
British police reportedly have arrested Jarett Dunn, known online as @STACCoverflow, for allegedly exploiting the Solana meme coin protocol pump.fun.
The arrest follows an over 24-hour intelligence operation that tracked Dunn’s movements through social media and other open sources.
London Police Arrest Alleged Pump.fun Exploiter Jarett DunnThe pump.fun protocol, exploited on May 16, had previously employed Dunn. After the attack, he openly criticized the company on social media. Dunn expressed his intention to disrupt the platform and stated he was not worried about going to jail.
A private intelligence firm, hired by a third-party stakeholder, tracked Dunn’s movements using his social media posts and other open-source intelligence. The timing of his last post on the X account @STACCverflow matched the arrest. A recent Instagram post showed him at a London strip club, which helped identify his whereabouts.
After hours of search in London’s Covent Garden neighborhood, local authorities found Dunn at the Middle Eight Hotel and arrested him.
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Dunn’s arrest has sparked significant reactions in the crypto community. On his @JarrettDunn X account, he confirmed spending the night in custody.
“I spent overnight in custody as the Pump team alleges I stole $2 million of their ill-gotten gains with conspiracy to steal another $80 million,” he wrote.
Dunn explained that the pump.fun’s team appeared to be claiming total value locked (TVL) as their money in the charge. Therefore, he urged investors to withdraw their money from pump.fun immediately. He also called for UK citizens to file charges against a company he identified as pump.fun’s corporate entity.
Dunn plans to remain in the UK until his court appearance, which is scheduled for August. He was released on bail.
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Jarrett Dunn’s Message Regarding His Current Condition After the Arrest. Source: X/therollupcoDunn appears to be in a hospital, as indicated by his message exchange with a crypto community member and his X account bio. At the time of writing, London authorities have yet to publish an official statement regarding the arrest.
The post London Police Arrest Suspect in Pump.fun Exploit After 24-Hour Operation appeared first on BeInCrypto.
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