Former Solana-based Pump.enjoyable worker arrested after $1.9 million crypto exploit

Jarret Dunn, a former worker of Solana-based memecoin launchpad Pump.enjoyable, is at present on bail in the UK following his current arrest.

Dunn, additionally identified by his on-line alias “STACCoverflow,” was apprehended shortly after a big exploit on the crypto launchpad platform.

On Might 16, Dunn, by means of the STACCoverflow social media account, admitted to an assault that resulted in roughly $1.9 million in losses for the Solana platform.

Pump.enjoyable corroborated this, saying an ex-employee abused his place to withdraw funds and exploit the platform’s techniques. It said:

“At 15:21 UTC, a former worker, having illegitimately taken entry of the withdraw authority utilizing their privileged place on the firm, used flash loans on a Solana lending protocol.”

Dunn’s arrest

On Might 18, Dunn tweeted that he had spent the earlier night time in custody. He revealed that Pump.enjoyable charged him with stealing $2 million and conspiring to steal a further $80 million.

In his tweet, Dunn highlighted that the corporate thought-about the whole worth locked (TVL) as their cash within the costs towards him. He urged customers to withdraw their funds from the platform and disclosed that Baton Corp is the company entity behind Pump.enjoyable.

Stories point out that regulation enforcement tracked Dunn utilizing his social media exercise. His current Instagram put up locations him in London, and the timing of his posts on his STACCoverflow account coincided together with his arrest.

Following his launch on bail, Dunn talked about that he’s at present in a hospital addressing psychological well being points, which can render him unfit for a police interview. Regardless of this, he’s required to remain in the UK till August 16, when he should report again to the police station.

Pump.enjoyable has but to reply to starcrypto’s request for remark.