coinspress.com
British authorities have apprehended Jarett Dunn, known online as @STACCoverflow, in connection with the exploitation of the Solana-based meme coin protocol pump.fun.
The arrest was the culmination of an extensive intelligence operation that lasted over 24 hours, utilizing Dunn’s social media activity to track his movements. Dunn, a former employee of pump.fun, had publicly criticized the platform after the exploit on May 16, openly declaring his intent to disrupt the protocol and showing no fear of potential jail time.
A private intelligence firm, engaged by an external stakeholder, traced Dunn using his online posts. A recent Instagram post that placed him in a London strip club was particularly instrumental in locating him. Authorities ultimately found and arrested Dunn at the Middle Eight Hotel in Covent Garden.
The crypto community has been abuzz with reactions to Dunn’s detention. On his @JarrettDunn X account, he confirmed spending a night in custody, addressing allegations from the pump.fun team that he had stolen $2 million and conspired to take an additional $80 million.
He accused pump.fun of misleadingly counting TVL as their funds and urged investors to withdraw their money from the protocol immediately.
Dunn, who plans to remain in the UK until his court date in August, was released on bail. His recent communications suggest he is currently in a hospital. As of now, London police have not issued an official statement on his arrest.