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Former Pump.fun Employee Claims Responsibility for $1.9M Theft, Alleges Airdrop Plans

A Twitter user has come forward, claiming to be the former Pump.fun employee responsible for stealing $1.9 million from the platform, and alleges that the project is planning an airdrop.

On May 18, JarrettDunn, a user on X (formerly Twitter), tweeted that they had spent a night in police custody after being arrested by UK authorities in connection to the May 16 exploit, which resulted in the theft of approximately $1.9 million worth of SOL from Pump.fun.

Dunn identified themselves as a disgruntled former employee of Pump.fun, alleging that the platform is violating UK law. They also claimed that Pump.fun is planning an $80 million airdrop for early users.

“I spent the night in custody as the Pump team alleges I stole $2M of their ill-gotten gains with a conspiracy to steal another $80M,” Dunn tweeted. “When I return to the station after my bail, I will argue with the Crown that Pump is guilty of far more serious crimes. Do you believe they are more guilty of operating an unregistered securities exchange or a gambling site without a license, KYC, or AML?”

Another Twitter user, also claiming to be Dunn, had previously taken responsibility for the attack on May 16.

These tweets followed a post-mortem report from Pump.fun on May 17, attributing the attack to a “former employee.” The platform also stated that it was cooperating with law enforcement on the day of the hack.

Pump.fun has seen rapid growth since its launch in January. On May 10, it was ranked as the top DeFi protocol by weekly revenue, generating $3.3 million.

Pump.fun did not respond to requests for comment from The Defiant at the time of publication.

In his May 18 tweet storm, Dunn also accused Pump.fun of exploiting overseas employees and planning to integrate live-streamed pornography onto the platform.

Despite attempting to present himself as a whistleblower against his former “horrible bosses,” Dunn’s thread received significant criticism.

“I’m not a lawyer, and I’m not your lawyer, but I’m going to tell you for free that this isn’t going to work out for you the way you think it is,” commented Functi0nZer0, the creator of Wildcat Protocol.

“You are not a hero, you are a felon,” added SoldanoCap.

The following day, Dunn claimed he had been taken to the hospital after his “mental health was questioned.”

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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