Pump.fun Attacker Was Arrested By UK Law Enforcement And Is Now Out On Bail

Key Points:

  • London authorities detain pump.fun attacker, possibly identified as Jarett Reginald Dunn.
  • Exploit on pump.fun platform compromises $1.9 million worth of SOL coins through redirected funds and flashloan manipulation.
  • pump.fun relaunches with $45 million in affected liquidity, offering 0% trading fees for 7 days to rebuild confidence.
British law enforcement in London detained an individual suspected to be behind the pump.fun attack, revealed in a post by user @therollupco on X.
Pump.fun Attacker Was Arrested By UK Law Enforcement And Is Now Out On Bail
Pump.fun Attacker Was Arrested By UK Law Enforcement And Is Now Out On Bail 2

Pump.fun Attacker Was Arrested In London

The alleged pump.fun attacker, known as @STACCoverflow, was later released on bail and could potentially be identified as Jarett Reginald Dunn.

The attack targeted pump.fun, a popular platform for launching meme coins on Solana, resulting in the compromise of the protocol and the theft of approximately $1.9 million worth of SOL coins. Exploiting bonding curve contracts, the pump.fun attacker redirected funds intended for the Solana decentralized exchange Raydium to unrelated wallet addresses, according to insights from on-chain analysts.

Igor Igamberdiev, head of research at Wintermute, assessed the situation, indicating a possible compromise of a key, although the prospect of insider involvement remains under scrutiny. The exploit utilized flashloans, borrowed and repaid within a single blockchain block, facilitated by MarginFi’s services.

Pump.fun Rebuilds Trust After Crypto Crisis

Notably, a former pump.fun employee claimed responsibility on X shortly after the attack, boasting about their actions and acknowledging the risk of imprisonment.

Following the incident, pump.fun has relaunched, with the affected liquidity totaling around $45 million. The team has reintroduced the contract, resumed trading, and announced a 0% trading fee for the next seven days. Despite the setback, pump.fun is striving to restore trust and stability to its platform.

Pump.fun Attacker Was Arrested By UK Law Enforcement And Is Now Out On Bail

Key Points:

  • London authorities detain pump.fun attacker, possibly identified as Jarett Reginald Dunn.
  • Exploit on pump.fun platform compromises $1.9 million worth of SOL coins through redirected funds and flashloan manipulation.
  • pump.fun relaunches with $45 million in affected liquidity, offering 0% trading fees for 7 days to rebuild confidence.
British law enforcement in London detained an individual suspected to be behind the pump.fun attack, revealed in a post by user @therollupco on X.
Pump.fun Attacker Was Arrested By UK Law Enforcement And Is Now Out On Bail
Pump.fun Attacker Was Arrested By UK Law Enforcement And Is Now Out On Bail 4

Pump.fun Attacker Was Arrested In London

The alleged pump.fun attacker, known as @STACCoverflow, was later released on bail and could potentially be identified as Jarett Reginald Dunn.

The attack targeted pump.fun, a popular platform for launching meme coins on Solana, resulting in the compromise of the protocol and the theft of approximately $1.9 million worth of SOL coins. Exploiting bonding curve contracts, the pump.fun attacker redirected funds intended for the Solana decentralized exchange Raydium to unrelated wallet addresses, according to insights from on-chain analysts.

Igor Igamberdiev, head of research at Wintermute, assessed the situation, indicating a possible compromise of a key, although the prospect of insider involvement remains under scrutiny. The exploit utilized flashloans, borrowed and repaid within a single blockchain block, facilitated by MarginFi’s services.

Pump.fun Rebuilds Trust After Crypto Crisis

Notably, a former pump.fun employee claimed responsibility on X shortly after the attack, boasting about their actions and acknowledging the risk of imprisonment.

Following the incident, pump.fun has relaunched, with the affected liquidity totaling around $45 million. The team has reintroduced the contract, resumed trading, and announced a 0% trading fee for the next seven days. Despite the setback, pump.fun is striving to restore trust and stability to its platform.

Visited 218 times, 1 visit(s) today