- Canadian Jarrett Dunn was sentenced to 6 years in jail for stealing $2 million in SOL from Pump.enjoyable.
- The previous developer distributed the stolen funds to hundreds of random pockets addresses.
- The Canadian pleaded responsible however tried to withdraw his plea earlier than sentencing.
London’s Wooden Inexperienced Crown Court docket on Thursday sentenced Canadian nationwide Jarrett Dunn to 6 years in jail for abuse of place and fraud by switch of legal property. Dunn beforehand labored as a senior developer for the meme coin platform Pump.enjoyable earlier than stealing Solana price about $2 million.
The ruling comes greater than a 12 months after Dunn siphoned off funds from his employer. The courtroom heard Dunn had already served 308 days in jail with digital tagging, of which 154 days had been credited in the direction of his sentence. He additionally served about 5 months in jail on remand, which usually counts in the direction of his complete sentence.
Developer distributes stolen funds to random wallets
Dunn didn’t preserve the stolen cryptocurrencies for private use, as a substitute distributing the funds to hundreds of random pockets addresses. He rapidly admitted to the crime on social media platforms and gained a cult following, with supporters calling him the “Robinhood of cryptocurrencies.”
The sentencing course of skilled a number of delays and postponements. Dunn tried to border the assault as an act of whistleblowing, claiming that Pump.enjoyable was operated as a malicious website and was meant to warn customers. The judges appeared unsympathetic to this argument, as mirrored within the ultimate verdict.
Dunn initially labored as a senior developer at Pump.enjoyable
Pump.enjoyable operates as a platform that permits customers to create cryptocurrency tokens inside seconds of filling out a brief kind. Mr Dunn had been working as a senior developer for six weeks previous to the incident. On the time, Pump.enjoyable generated $43.9 million in lifetime income, in accordance with information from Dune. This determine has since elevated to $927.2 million.
Mark Kelly, a buddy who attended the sentencing, referred to as the decision “miserable.” Kelly mentioned prosecutors dismissed the whistleblower’s grievance as “post-arrest spin.” He famous that Dunn’s social media confessions made it simpler for prosecutors to deliver expenses.
“Everybody keep calm, it is a theft…I am attempting to vary the course of historical past. (And) then rot in jail,” Dunn posted X minutes after the assault. He took half within the X Areas session and mentioned he wished to “kill” Pump.enjoyable “as a result of that is what must be achieved” and claimed that the platform “has been carelessly hurting individuals for a very long time.”
Police arrested Dunn 4 days after the assault at a London resort close to the WeWork hub the place Pump.enjoyable operated. Authorities deemed him unfit for police questioning, and after taking a number of months off his treatment, he was hospitalized for 2 weeks to deal with psychological well being issues. Dunn pleaded responsible in August 2024 and tried to withdraw his plea throughout sentencing two months later. The reversal brought on his protection workforce to drop the case.
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