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Home»HACKING NEWS»Mastermind of Solana Memecoin protocol Pump.fun exploit arrested in London.
HACKING NEWS

Mastermind of Solana Memecoin protocol Pump.fun exploit arrested in London.

By Crypto FlexsMay 20, 20242 Mins Read
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Mastermind of Solana Memecoin protocol Pump.fun exploit arrested in London.
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  • Jarett Dunn, also known as @STACCoverflow, was arrested in London for allegedly exploiting the Solana memecoin.
  • Dunn manipulated Pump.fun using flash loans to steal $2 million in liquidity.
  • Dunn, who is out on bail, confessed online, citing mental health issues and grief.

Jarett Dunn, the alleged orchestrator of the recent Solana memecoin protocol Pump.fun exploit, known online as @STACCoverflow, has been arrested in London.

The arrests follow a sophisticated 26-hour intelligence operation led by third-party stakeholders who joined a private intelligence firm to track Dunn’s activities.

Jarett Dunn was arrested at the Middle Eight Hotel.

The operation culminated in the early hours of 18 May when local agents, or “assistants”, pinpointed Dunn’s location at the Middle Eight Hotel in Covent Garden.

British authorities arrested Dunn after a seven-hour search, and he was released on bail until his court appearance in August.

Pump.fun flash loan exploit

Dunn, a former contractor, was accused of exploiting the Solana-based Pump.fun protocol by leveraging flash loans on the Raydium lending platform.

Flash loans allow users to borrow large amounts of capital without collateral, provided the loan is repaid within the same transaction.

Dunn reportedly manipulated the Pump.fun bonding curve to access and withdraw significant liquidity, making a $2 million profit in the process.

In the aftermath of the attack, Dunn confessed his involvement via social media. His posts on

Dunn also opened up about his mental health struggles and the recent loss of his mother, suggesting emotional distress played a role in his actions.

The attack prompted Pump.fun to work closely with law enforcement to investigate the breach. An initial theory from Igor Igamberdiev, head of research at cryptocurrency marketplace maker Wintermute, pointed to an internal private key leak.

Dunn’s erratic tweets have since confirmed his role, but the specifics of his proposed distribution of funds remain unclear.

As the investigation continues, the cryptocurrency community is closely watching further developments in this notable case.


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