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Pump.fun former employee Jarett Dunn has been remanded to a London prison after breaching the terms of a bail agreement. The Canadian and popular crypto figure is currently undergoing trial after stealing $2 million from the Solana meme coin factory.
In May 2024, Jarett Dunn, a developer at Pump.fun, drained the platform of almost $2 million in SOL, which was diverted to multiple addresses. Thereafter, Dunn started distributing this stolen wealth to several wallets holding Solana memecoins or NFTs, allowing the Canadian to gain some following in the crypto community.
Notably, Jarett Dunn took responsibility for the exploits within minutes of the operation, citing reasons such as a hostile work environment and inappropriate mentality towards user funds. Dunn accused Pump.fun of several crimes, including operating as an unregistered securities exchange and casino, alongside suggestions of child abuse intentions.
The former Pump.fun employee was immediately arrested but soon released on bail. In October 2024, Jarett Dunn pleaded guilty to the crypto theft but soon requested to withdraw this plea while awaiting sentencing. This action resulted in Dunn losing his legal team while under a strict bail condition that involved movement restriction.
However, in June 2025, Jarett Dunn breached this bail agreement in a sudden, unauthorized move from London to Liverpool while also tampering with his ankle monitor. The ex-Pump.fun developer was soon apprehended and now sits in a London prison awaiting a hearing.
According to recent posts on Dunn’s X account under the alias @STACCoverflow, the Canadian appears to have made peace with staying in prison, hinting at accepting the guilty plea again and terminating his withdrawal request. @STACCoverflow is reportedly managed by Dunn’s friend Mark Kelly, who has reportedly been communicating with the developer since his recent incarceration.
In the UK, fraud by abuse of position where the value exceeds £500,000 ($640,000) can result in a maximum sentence of 10 years. While a bail breach attracts remand in prison until hearing or an additional 12 months’ jail time if prosecuted as a separate offence. However, such factors as an early guilty plea and purported health issues may help mitigate sentences in the case of Jarett Dunn.
Meanwhile, Pump.fun just recently concluded its initial coin offering (ICO) process, raising about $600 million in the process. The Solana memecoin factory is now valued at over $6 billion following resounding success, such as Moo Deng (MOODENG), Fart Coin (FARTCOIN), Peanut The Squirrel (PNUT), etc.
Featured image from Pexels, chart from Tradingview
