Hacker Who Exploited Solana Meme Coin Factory Pump.fun Says He Faces Theft, Conspiracy Charges

The alleged Pump.fun attacker, who stole an estimated $2 million of Solana, claims to have been arrested and charged in relation to the exploit. However, the police do not have a record of any charges matching the time and location the attacker described to Decrypt.

Jarett Reginald Dunn (known as Stacc on Twitter) told Decrypt that on Friday, May 17 at around 11:45 p.m., police arrested him not far from the Pump.fun WeWork in Covent Garden, London.

He told Decrypt he was charged for “theft from employer for $2 million with conspiracy of another $80 million,” saying the charges were explained to him “over and over.” However, the Metropolitan (MET) Police are unable to find any charges matching this time and location. And, as a matter of policy, the MET Police dont disclose details about people who were arrested but not charged.

I am once again without any of my 2fa for a lil while. I spent overnight in custody as the pump team alleges I stole 2m of their Ill gotten gains with conspiracy to steal another 80m.

— free stacc (@jarettdunn) May 18, 2024

Pump.fun is a popular tool that allows users to launch Solana tokens in minutes for only 0.02 SOL ($3). The exploit, executed on Thursday, saw wallet provider Phantom block the site and trading pause across the platform.

We are aware that the https://t.co/uE2QNKXkIT bonding curve contracts have been compromised and are investigating the matter.

We have upgraded the contracts so the attacker cannot siphon any more funds. The TVL in the protocol right now is safe.

Weve paused trading — you…

— pump.fun (@pumpdotfun) May 16, 2024

Within minutes of the attack, Dunn took to Twitter to claim responsibility. He said he was a former Pump.fun employee with a deep disdain for the protocol and that he was not afraid of being imprisoned, especially with his identity being known prior to the attack.

Dunn told Decrypt he was been taken to Islington station and held for 20 hours. He claims that he has been released on bail under the conditions that he returns for an interview with the Criminal Investigation Department on Aug 16, as well as refraining from contacting individuals or appearing at locations connected with Pump.fun.

The Canadian-national claims that he has now been hospitalized for up to 28 days due to mental health concerns. This came after he raised concerns about his mental health. He told Decrypt that he was then seen by two psychiatrists before being involuntarily hospitalized.

“I‘ve been hospitalized two of the last three years of my life lol.” Dunn told Decrypt via Twitter DMs, “I am diagnosed [with] schizo-affective bipolar and panic disorder and am medicated ADHD, although no diagnoses. Haven’t had any meds of any kind in about three months.”

In the UK, the only way for someone to be removed from the public against their will due to mental health reasons is under Section 136 of the Mental Health Act. It is important to understand that being sectioned under this act is not an arrest, but rather a police power for when a person is in “immediate need of care and control as their behavior is of concern.”

Dunn told Decrypt that a number of his phones and MacBooks were seized due to the investigation he says is currently underway. He‘s been in touch with Decrypt by using an iPad provided to the hospital where he’s been taken. As a result, he is currently attempting to raise funds to purchase a new phone, laptop, and regain access to his email.

To whom it may concern: I regained access to my PayPal jarettrsdunn+pp@gmail.com

At £100 I can pay off my email debt and maybe regain access to @STACCoverflow

At £1400 I can have an iPhone delivered here today

At £5000 I can have a ,a book delivered here today

Do what u will

— free stacc (@jarettdunn) May 20, 2024

In the face of these charges—which have yet to be confirmed by police—Dunn believes that Pump.funs case has no legs. That's because the funds were owned by the customers, not the Pump.fun team which, he believes. And that puts him in the clear.

Pump.fun did not immediately respond to Decrypts request for comment.

Edited by Stacy Elliott.