TL;DR

Ex-Pump.fun developer Jarett Dunn sentenced to six years for stealing $2M in Solana.
Dunn’s defense of “whistleblowing” was dismissed by the court.
Pump.fun faces a major fraud lawsuit in the U.S. alleging insider manipulation.

A London judge sentenced Jarett Dunn, a former Pump.fun developer, to six years in prison after Dunn took about $2 million in Solana (SOL) connected to the platform. Dunn entered guilty pleas for fraud by abuse of position and transfer of criminal property.

Dunn spent 308 days on an electronic tag, and the court counted 154 of those days toward the prison term. Dunn also spent about five months in custody on remand, and courts typically count that period toward a sentence.

Dunn carried out the theft and spread funds across thousands of random addresses. Soon after, Dunn posted about the act on social media and admitted responsibility. Dunn then tried to label the theft as a whistleblower act and described Pump.fun as harmful, while claiming a desire to warn users. Dunn held a senior developer role at Pump.fun for six weeks before the incident.

Data cited from Dune placed Pump.fun lifetime revenue near $43.9 million around the time of the theft. A later figure cited in the same source material places lifetime revenue near $927.2 million, reflecting rapid growth in fees and activity over time.

Pump.fun lawsuit pressure grows as PUMP slides to a five-month low

After the theft, Dunn’s case also included mental-health and procedural turns. Authorities deemed Dunn unfit for a police interview and sent Dunn to a hospital for two weeks after months without medication. 

Dunn pleaded guilty in August 2024, then tried to withdraw the plea roughly two months later during sentencing steps. Dunn’s legal team then left the case, and Dunn spent months finding new representation while police kept Dunn under surveillance.

In July 2025, authorities jailed Dunn for breaching bail conditions. In August, Dunn entered a guilty plea again. Dunn then waited for sentencing while held at HMP Pentonville and continued to communicate online. The judge imposed two six-year sentences to run concurrently for the two offenses. Dunn had also expressed a wish for immediate deportation to Canada, yet custody remained in London.

Legal pressure also surrounds Pump.fun in the United States. Diego Aguilar, Kendall Carnahan, and lead plaintiff Michael Okafor filed a fraud lawsuit that names Pump.fun co-founders Alon Cohen, Noah Tweedale, and Dylan Kerler, and also targets co-founders of Solana Labs. 

Plaintiffs say defendants profited from token launches by giving insiders priority access and misleading regular buyers. Plaintiffs also point to Pump.fun marketing claims that described launches as “fair” and “rug-pull proof,” alongside a 1% platform fee. Plaintiffs allege insiders bought large positions at low prices before retail demand arrived, then triggered sharp spikes and fast drops.

A federal judge in the U.S. District Court for the Southern District of New York approved a second amended complaint, which lets plaintiffs expand claims. Market data in the same material also points to stress in trading flows, with CMF reaching an all-time low and marking the largest outflows in PUMP trading history.

Price action matched the legal overhang. PUMP fell almost 30% over one week and dropped 8.9% over 24 hours. The token trades near $0.001987, the lowest level in five months, and buyers have not shown consistent demand that changes the short-term direction.

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Filed under: News - @ December 18, 2025 11:26 pm