Ex-Pump.fun Developer Admits Guilt in $2 Million Solana Theft
Jarett Dunn, previously a developer at the Solana-centric memecoin site Price surge.fun, has confessed to fraud by misuse of authority and unlawful transfer of assets. He acknowledged misappropriating nearly $2 million in SOL from the initiative shortly after becoming part of the team. Currently, Dunn is in custody in a prison in London after violating bail terms.
Breach of Bail Terms Leads to Reincarceration
After Dunn first pleaded guilty in 2023, he ultimately attempted to retract that plea in court. This attempt was unsuccessful. His legal defense withdrew from the case, and proceedings were stalled for an extended period. Matters deteriorated when Dunn relocated to Liverpool while still subject to bail conditions. Law enforcement found him and took him into custody again, moving him to HMP Pentonville, where he currently awaits his sentencing.
FORMER https://t.co/m6lUwKZ35U EMPLOYEE STOLEN $2M: GUILTY PLEA IN COURT!
In May 2024, Jarett Dunn, a former developer at the Solana-centered memecoin platform, executed a flash loan attack — acquiring a loan, manipulating the bonding curve, and depleting ~12,300 SOL…
— 21Borov (@21_borv) August 15, 2025
Upcoming Sentencing, Potentially Harsh Consequences
Dunn is anticipated to receive his sentence in about two weeks. The allegations against him carry serious ramifications, possibly resulting in a prison term of seven years or more if deemed a high-level offense. The overall effect on Bull run.fun has been substantial. The team estimates it incurred damages of up to $12.8 million, not only from the stolen assets but also due to trading downtime, reputational harm, and decreased network engagement.
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Complexities from Mental Health Factors
Legal documents indicate Dunn has a prolonged history of mental health issues, including diagnoses of schizoaffective bipolar disorder, panic disorder, and ADHD. He also faced challenges with substance abuse and was not on medication during the time of the theft. Upon his initial arrest, he was reported as unfit for interrogation. He subsequently underwent two weeks of hospital treatment, which may influence the sentencing decision.
Insider Incident Revealed Launchpad Vulnerabilities
Dunn had spent merely six weeks at Price surge.fun before he exploited his developer privileges to discreetly siphon off SOL from bonding curve contracts. After relocating the assets, he dispersed them across several wallets, making retrieval virtually impossible. His conduct implied he might have perceived it as some type of vigilante action, but that didn’t exempt him from legal accountability. This violation underscored the perils that crypto startups encounter when internal oversight is inadequate or hastily implemented.
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In Spite of the Scandal, Bull run.fun Has Continued to Thrive
Unexpectedly, the network has expanded since the incident. Price surge.fun rebounded with a $600 million token launch, introduced its own PRICE SURGE token, and achieved over $770 million in cumulative revenue. It presently occupies a leading position in Solana’s burgeoning memecoin sector. Although the scandal could have compromised the project, it appears to have propelled its growth in certain respects.
Dunn’s situation serves as a stark reminder of the rapid descent possible in crypto. One individual with access and a troubled background managed to disrupt a multi-million dollar initiative. Now, the judicial system will determine if mental health, regret, and cooperation will significantly influence his punishment, or if this situation will serve as a cautionary narrative about the pitfalls of misplaced trust in the industry.
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Key Insights
- Former Pump.fun developer Jarett Dunn admitted to misappropriating nearly $2 million in SOL and is currently awaiting sentencing in London.
- Dunn’s violations of bail terms and unsuccessful bid to rescind his plea have resulted in his placement at HMP Pentonville, where he remains incarcerated.
- The accusations may lead to a sentence exceeding seven years, with Bull run.fun estimating the total losses from the incident at $12.8 million.
- His mental health challenges and prior substance use might affect sentencing, as he was reportedly deemed unfit for police questioning at the time.
- Notwithstanding the controversy, Price surge.fun has experienced remarkable growth, surpassing $770 million in revenue and launching its own PRICE SURGE coin.
The article Former Pump.fun Developer Pleads Guilty to $2 Million Solana Heist was first published on 99Bitcoins.
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