Ex Pump.fun dev sentenced to 6 years for $2 million Solana fraud

Jarett Dunn, former Pump.fun developer has been sentenced to six years in prison by a London judge. He was sentenced more than a year ago after seizing about $2 million worth of Solana (SOL) from Pump.fun

He had previously pleaded guilty to fraud by abuse of position and transfer of criminal property. The former Pump.fun dev 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.

Jarett Dunn found guilty for fraud and transfer of criminal property

Jarett Dunn stole the funds and distributed them to thousands of random addresses. He then immediately admitted to the crime on social media. 

He attempted to frame the attack as a whistleblower move. He stated that Pump.fun was a malicious site and that he was trying to warn people about it. Dunn had been working as a senior developer for Pump.fun for six weeks before the incident. 

Back then the platform was popular but still in its infancy. According to Dune data,  at the time, Pump.fun had a lifetime revenue of $43.9 million. Now the platform has amassed a massive  $927.2 million.

The sentence was an easy one because he had already confessed on his social media platform. “Everybody be cool, this is a robbery… I’m about to change the course of history. [And] then rot in jail […] Am I sane? Nah. Am I well? [Very] much not,” Dunn wrote on X, within minutes of the attack.

Immediately, Dunn was determined unfit to face a police interview and was hospitalized for two weeks to improve his mental health, after spending months off his medication. He then pleaded guilty in August 2024, before attempting to withdraw that plea during his sentencing two months later. This sudden change of heart led to his legal team quitting the case.

Thereafter, he spent months finding a new legal team while under police surveillance. He was then imprisoned for breaching his bail conditions in July 2025, before pleading guilty again in August. Since then, he has been awaiting sentencing from behind bars in HMP Pentonville, communicating with his followers.

Today, Dunn was sentenced to two six-year prison sentences to be served concurrently for fraud and transfer of criminal property. He has yet to make a statement via X. However, Dunn previously said he was hoping to be immediately deported to Canada. But that wasn’t the case, and Dunn remains in custody in London.

PUMP declines 30%, its lowest level in five months, amid the lawsuit

Pump.fun is facing a fraud lawsuit. It was filed by Diego Aguilar, Kendall Carnahan, and lead plaintiff Michael Okafor. It targets Pump.fun co-founders Alon Cohen, Noah Tweedale, and Dylan Kerler and Solana Labs co-founders.

The plaintiffs say that the defendants made money from token launches by offering insiders priority access and lying to regular consumers. Pump.fun promoted its launches as “fair” and “rug-pull proof” and charged a 1% platform fee. In practice, insiders reportedly bought large volumes at low prices before retail investors, triggering rapid price spikes and crashes.

A federal judge of the US District Court for the Southern District of New York has approved a second amended complaint in the class action lawsuit against memecoin platform Pump.fun. The ruling allows plaintiffs to expand claims. 

The CMF has reached an all-time low, marking the largest outflows in PUMP’s trading history to date.

The token has fallen nearly 30% in just one week. Accelerating losses reflect worsening sentiment and the absence of consistent buying interest. PUMP is down 8.9% in the last 24 hours, now trading at $0.001987, its lowest level in five months.