Jarret Dunn, formerly employed at Solana-based memecoin launchpad Pump.fun, is presently out on bail in the United Kingdom following his recent apprehension.

Dunn, also known online as "STACCoverflow," was arrested shortly after a significant breach occurred on the crypto launchpad platform.

On May 16, Dunn admitted via his STACCoverflow social media account to orchestrating an attack that led to approximately $1.9 million in losses for the Solana platform.

Pump.fun corroborated this, acknowledging that a former employee misused their position to withdraw funds and exploit the platform’s systems. The company stated:

“At 15:21 UTC, a former employee, having illegitimately gained access to withdrawal authority through their privileged position at the company, utilized flash loans on a Solana lending protocol.”

Regarding Dunn’s arrest, on May 18, he tweeted about spending the previous night in custody. He disclosed that Pump.fun had accused him of stealing $2 million and conspiring to steal an additional $80 million.

In his tweet, Dunn emphasized that the company considered the total value locked (TVL) as their funds in the charges against him. He advised users to withdraw their funds from the platform and revealed that Pump.fun operates under the corporate entity Baton Corp.

Reports indicate that law enforcement tracked Dunn through his social media activities. His recent Instagram post placed him in London, and the timing of his posts on the STACCoverflow account coincided with his arrest.

Following his release on bail, Dunn mentioned he is currently receiving treatment in a hospital for mental health issues, which may affect his readiness for a police interview. Nonetheless, he is obligated to remain in the United Kingdom until August 16, when he must report back to the police station.