• Jarett Dunn, aka @STACCoverflow, was arrested in London on suspicion of abusing the Solana meme coin.
• Dan used flash loans to control pump.enjoyable and steal $2 million in liquidity.
• Dunn, launched on bail, confessed on-line citing psychological well being difficulties and grief.

The person who allegedly orchestrated the current Pump.enjoyable exploit of the Solana memecoin protocol, Jarett Dunn, recognized on-line as @STACCoverflow, has been arrested in London.

The arrest got here after a complicated 26-hour intelligence operation led by third-party stakeholders who engaged personal intelligence corporations to trace Dunn's actions.

Jarrett Dunn arrested at Center Eight Lodge

The operation culminated within the early hours of Could 18, when native operatives, or “auxiliary forces”, situated Dunn on the Center Eight Lodge in Covent Backyard.

After a seven-hour search, British authorities arrested Dunn and he was launched on bail till a court docket look in August.

Pump.enjoyable Flash Mortgage Exploit

Dan, a former contractor, is accused of abusing the Solana-based Pump.enjoyable protocol by utilizing flash loans from the Raydium lending platform.

Flash loans permit customers to borrow massive quantities of capital with out collateral, so long as the mortgage is repaid inside the identical transaction.

Dunn allegedly manipulated pump.enjoyable's bonding curve to extract important liquidity, making a revenue of $2 million within the course of.

Within the aftermath of the exploit, Dunn took to social media to admit his involvement. His posts on X (previously Twitter) revealed a mix of regret and defiance, as he hinted at his want to distribute the stolen funds to Solana (SOL) token holders.

Dunn additionally opened up about his personal psychological well being struggles and the current dying of his mom, suggesting that psychological misery performed a task in his actions.

This exploit led pump.enjoyable to work carefully with regulation enforcement to analyze the breach. An preliminary idea by Igor Iganberdiev, head of analysis at cryptocurrency market maker Wintermute, pointed to a leak of inner personal keys.

Dunn's erratic tweets have since confirmed his position, however the particulars of his proposed funding allocation stay unclear.

Because the investigation continues, the crypto group is carefully monitoring additional developments on this high-profile case.