- A former Pump.fun developer has been remanded after breaching multiple bail conditions
- Jarrett Dunn had previously pleaded guilty to a $2 million exploit but is now trying to withdraw his plea
- Authorities say Dunn’s actions pose a risk to the legal process and justify continued detention
Jarett Dunn, a former senior developer at the Solana-based memecoin launchpad Pump.fun, has been remanded in custody at a London prison after breaching his bail terms, including relocating without permission and violating electronic monitoring restrictions. Dunn had earlier pleaded guilty to fraud and transferring criminal property in connection with a $2 million exploit on the platform but is now attempting to retract that plea. His bail violation, combined with legal reversals and potential witness interference, has prompted the court to keep him detained as the case develops.
Dunn Reversed Plea
Dunn, who was granted conditional release after admitting to exploiting Pump.fun’s internal systems, reportedly moved from London to Liverpool without court authorization and tampered with his ankle monitor, directly violating the restrictions placed upon him. In a surprise twist, he later attempted to withdraw his guilty plea just before sentencing, a decision that led his legal representatives to step down from the case. Prosecutors argued that his disregard for the court’s conditions, along with the confusion surrounding his plea status, made him a risk to the integrity of the proceedings and justified his remand.
The original charges stem from a high-profile incident in May 2024 when Dunn used insider access and flash loans to siphon approximately 12,300 SOL, worth about $2 million, from bonding curve contracts on Pump.fun. Rather than launder the funds for personal gain, Dunn scattered the stolen assets across random wallets and later declared online that his aim had been to “kill Pump.fun,” a platform he claimed was damaging the broader crypto community. His actions shocked many in the Solana ecosystem and sparked debates about insider threats in DeFi protocols.
“Remarkably Cool” Dunn Could Face More Charges
As Pump.fun continues to thrive, having reportedly generated over $770 million in revenue and launched a $600 million ICO, Dunn’s case underscores a growing willingness by authorities to pursue crypto insiders who exploit protocol-level access. His friend, Mark Kelly, described him as “remarkably cool and zenlike considering his situation,” but this could soon change; Dunn could be exposed to new fraud charges, bail offense prosecutions, contempt proceedings, and even justice obstruction counts.
All of these could significantly increase his sentence if convicted, especially if he is found guilty following a not-guilty plea.
