Former Pump.fun Dev Sentenced to Six Years in Prison for $2 Million Solana Fraud
The post Former Pump.fun Dev Sentenced to Six Years in Prison for $2 Million Solana Fraud appeared on BitcoinEthereumNews.com.
In brief Jarett Dunn has been sentenced to two six-year prison sentences to be served concurrently, after he pleaded guilty to fraud and transfer of criminal property. Dunn drained $2 million worth of Solana from then-employer Pump.fun, and sent the funds to several random wallet addresses. Pump.fun has since grown into one of the most successful crypto projects, generating nearly $1 billion in revenue to date. Canadian national Jarett Dunn was sentenced to six years in prison by a London judge on Thursday, Wood Green Crown Court told Decrypt. He had previously pleaded guilty to fraud by abuse of position and transfer of criminal property. The former Pump.fun employee had already spent 308 days on tag, the Court said, 154 of which will count towards his sentence. He had also spent approximately five months in prison on remand, which typically automatically counts towards an individual’s sentence. The sentencing comes more than a year after he siphoned an estimated $2 million worth of Solana (SOL) from his then-employer Pump.fun—a now-hugely popular meme coin platform. Dunn, interestingly, didn’t take the money for himself but rather distributed the funds to thousands of random addresses. He then immediately admitted to the crime on social media. As such, the Canadian gained a cult-like following, with fans branding him a “crypto Robin Hood.” Dunn’s path to sentencing has been a rocky one, with several dates set, delayed, and adjourned. This included Dunn attempting to frame the attack as a whistleblower move, claiming that Pump.fun was a malicious site and that he was trying to warn people about it. However, with his sentence, it appears the judge wasn’t too sympathetic to this argument. Pump.fun is a platform that allows anyone to create a crypto token in seconds, after filling out a short form. Dunn had been…
