Arrest and Bail Granted to Attacker of pump.fun, the Memecoin Issuance Platform, in London

Arrest and Bail Granted to Attacker of pump.fun, the Memecoin Issuance Platform, in London

Arrest and Bail Granted to Attacker of pump.fun, the Memecoin Issuance Platform, in London

According to a report by Blockworks, the attacker suspected of hacking into the Solana ecosystem meme coin issuance platform pump.fun has been arrested in London. A source familiar with the matter said that the UK police arrested Jarett Dunn, a former contract employee of the protocol, who goes by the alias “staccoverflow” online, in the early morning of last Saturday (the 18th).

The source informed Blockworks that a third-party stakeholder had signed a contract with a private intelligence company to determine Dunn’s whereabouts. The source also confirmed the authenticity of a screenshot circulating online, which is associated with Dunn’s alias and a Binance account.

The source pointed out that the 26-hour intelligence operation utilized posts on Instagram and other “open-source intelligence” to determine Dunn’s approximate location in London. Subsequently, the company signed a contract with local agents and launched a “large-scale manhunt”. After a comprehensive search, Dunn was eventually found in a hotel in London and was arrested 7 hours later.

According to a tweet posted by a possible account of Jarett Dunn, @JarettDunn, he was later released on bail, which has been confirmed by sources from the intelligence company. It is reported that Dunn is expected to remain in the UK, awaiting further court summons in August.

According to previous reports by Zombit, the Pump.fun team stated in their investigation report that there were no vulnerabilities in the Pump.fun contract, and the reason for the hack was the illegal misappropriation of approximately 12,300 SOL tokens (approximately $1.9 million) by a former employee. According to Igor Lamberdiev, the research manager at Wintermute, apart from exploiting flash loans, the apparent leakage of the Pump.fun private key seems to be the main cause of the attack. In addition, the hacker seems to have used the stolen SOL tokens for random airdrops to holders of Slerf, Stacc, Saga, and risklol, among others.