Gushiken Yona
A London judge handed down a six-year prison sentence to former Pump.fun developer Jarett Dunn on Thursday, effectively closing the book on one of the most bizarre insider threats in recent crypto history.
Key Points
- Jarett Dunn received a six-year prison sentence in London Thursday for draining the Pump.fun platform via admin exploits.
- The attack involved $2 million in Solana, though the protocol’s revenue has ironically surged to $927 million since the incident.
- Legal analysts note the court rejected Dunn’s "whistleblower" defense, setting a strict precedent for insider crypto threats.
Dunn, a Canadian national, appeared at Wood Green Crown Court to face the consequences of his May 2024 exploit, where he abused his senior administrator privileges to drain approximately $2 million in Solana from the meme coin platform. Unlike typical crypto heists driven by profit, Dunn distributed the stolen funds to random wallet addresses in a chaotic “airdrop,” earning him a contentious “Robin Hood” label from some corners of the internet.
The court rejected Dunn’s defense that the attack was a whistleblower’s attempt to highlight security vulnerabilities. Prosecutors successfully argued the act was deliberate fraud by abuse of position and the transfer of criminal property.
A Chaotic Legal Saga
The road to Thursday’s sentencing was volatile. Dunn initially pleaded guilty in August 2024 but attempted to reverse course in October, trying to withdraw his plea. The move caused his legal team to withdraw from the case, stalling proceedings.
Dunn’s situation deteriorated further in early 2025 when he breached bail conditions, leading authorities to remand him into custody. By the time he reappeared in court, he had renewed his guilty plea.
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The judge sentenced Dunn to two concurrent six-year terms. He received credit for time served, which included roughly five months in remand and 154 days calculated from his time under electronic monitoring.
“Depressing” Outcome
Mark Kelly, a friend of Dunn’s who attended the sentencing, described the atmosphere in the courtroom as bleak. In a statement regarding the judge’s decision, Kelly provided insight into the sentencing math used by the court.
“Seven years was the unexpectedly harsh starting point, reduced for pleading guilty and a little for mental health considerations,” Kelly said. “Other discounts may be applied, but sadly our friend will not be jumping on a Canada-bound plane any time soon.”
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The Platform Thrived Anyway
Perhaps the bitterest irony for Dunn is that his attempt to derail Pump.fun completely failed. When Dunn struck in May 2024, the platform had generated roughly $43.9 million in lifetime revenue.
In the 18 months since, Pump.fun not only survived but even became the dominant engine of the meme coin economy. According to data from Dune Analytics, the platform’s revenue has since skyrocketed to over $927 million. Dunn sits in a UK prison cell, while the protocol he tried to “kill” closes in on $1 billion in earnings.
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YONA GUSHIKEN
Yona brings a decade of experience covering gaming, tech, and blockchain news. As one of the few women in crypto journalism, her mission is to demystify complex technical subjects for a wider audience. Her work blends professional insight with engaging narratives, aiming to educate and entertain.
