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.
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.
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.
Featured image from Pexels, chart from Tradingview
