Pump.fun Ex-Dev Jarett Dunn Gets Six Years for $2M Theft

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2025/12/19/pump-fun-ex-dev-jarett-dunn-gets-six-years-for-2m-theft/ on 2025-12-19. Article ID: SD31022T328adaf4. Author: Gushiken Yona. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2025/12/19/pump-fun-ex-dev-jarett-dunn-gets-six-years-for-2m-theft/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

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 rеnewed his guilty plea.

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 Cаnada-bound plane any time soon.”

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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Frequently Asked Questions

Jarett Dunn is a former Pump.fun developer sentenced to six years in prison for stealing approximately $2 million. He abused his senior administrator privileges to drain Solana funds in May 2024. The London court ruled this was deliberate fraud rather than a security test.

Prosecutors successfully argued that distributing stolen funds in a chaotic "airdrop" constituted transfer of criminal property, not ethical hacking. The judge determined the act was an abuse of position intended to damage the platform. This ruling clarifies the line between bug bounties and theft.

No, the platform actually grew exponentially after the May 2024 attack. While revenue was $43.9 million at the time of the exploit, it has since skyrocketed to over $927 million. Dunn sits in prison while the protocol he tried to derail dominates the meme coin economy.

The case was volatile, involving an initial guilty plea in August 2024 that Dunn later tried to withdraw. Proceedings stalled when his legal team quit, and he was remanded into custody in early 2025 after breaching bail. He eventually renewed his guilty plea before sentencing.

Dunn was handed two concurrent six-year terms at Wood Green Crown Court. He received credit for roughly five months of remand and time spent under electronic monitoring. Associates confirmed he will not be returning to Canada anytime soon.

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.

Yona has no crypto positions and holds no crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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