Jarret Dunn, a former employee of Pump.fun, a Solana-based memecoin launchpad, is currently out on bail in the UK after being arrested recently. Dunn, also known as "STACCoverflow" online, was apprehended shortly after a significant exploit on the Pump.fun platform, resulting in approximately $1.9 million in losses for Solana.

Pump.fun confirmed that a former employee misused their position to withdraw funds and exploit the platform's systems. On May 18, Dunn tweeted about spending the previous night in custody, stating that Pump.fun accused him of stealing $2 million and conspiring to steal an additional $80 million. He emphasized that Pump.fun considered the total value locked (TVL) as their money in the charges against him and urged users to withdraw their funds from the platform.

Dunn also revealed that Pump.fun is operated by Baton Corp. Reports suggest that law enforcement tracked Dunn through his social media activity, with his recent Instagram post placing him in London, coinciding with the timing of his arrest and his posts on his STACCoverflow account.