Former Pump.fun Developer Sentenced to Six Years After $2M SOL Heist

The “crypto Robin Hood” story has reached its legal end. A London court has sentenced former Pump.fun developer Jarett Dunn to six years in prison after he stole roughly $2 million worth of Solana from his employer and dispersed the funds to thousands of random wallets.

The ruling, first reported by Decrypt, closes one of the most unusual insider theft cases to emerge from the memecoin boom.

From Six-Week Hire to $2M Exploit

The timeline is striking.

Jarett Dunn, a Canadian national, had worked at Pump.fun for just six weeks when the incident occurred in May 2024. During that short stint, Dunn gained access to internal systems. Prosecutors say he abused that position to drain approximately $2 million worth of Solana (SOL) from company-controlled accounts.

The theft was not subtle. Funds were moved quickly and deliberately. But what followed set the case apart from a typical insider exploit.

Instead of consolidating the funds or laundering them through mixers, Dunn scattered the stolen SOL across thousands of random wallets in what appeared to be an on-chain airdrop. Almost immediately, he went public.

A Self-Styled “Crypto Robin Hood”

Within hours of the theft, Dunn took to social media.

He openly admitted to draining the funds. He framed the act as a protest, claiming he was exposing what he described as a “scammy” platform. Among certain corners of the memecoin and degenerate trading community, the stunt earned him praise. The nickname “crypto Robin Hood” spread fast.

To some traders, the act looked like a bizarre redistribution of wealth. To the court, it was something else entirely.

Prosecutors argued that intent does not erase harm. Whether the funds were pocketed or dispersed, the crime remained the same. The judge agreed.

Arrested in London Days Later

The saga unraveled quickly.

Just four days after the incident, Dunn was arrested at a luxury hotel in London. Authorities moved fast, citing the clear on-chain trail and Dunn’s public admissions. The transparency of blockchains, often celebrated by crypto natives, worked against him.

Dunn later pleaded guilty to two charges: fraud by abuse of position and transferring criminal property. Those admissions removed any ambiguity about the underlying facts of the case.

The question left for the court was not guilt, but punishment.

Six-Year Sentence and Time Already Served

On Thursday, a London court delivered its verdict.

Dunn was sentenced to six years in prison. The judge acknowledged that he had already spent 308 days under electronic monitoring, with 154 of those days credited toward his sentence. In addition, Dunn had served approximately five months in pretrial detention.

Those credits will reduce the remaining time he must serve, but the sentence still stands as one of the harsher penalties handed down for a crypto-related insider theft.

The ruling comes more than a year after the original exploit and sends a clear message: narrative does not outweigh responsibility.

Pump.fun’s Rise Despite the Scandal

While Dunn’s legal troubles played out, Pump.fun moved in the opposite direction.

The Solana-based memecoin launchpad has since generated nearly $1 billion in revenue, according to industry estimates. What began as a controversial, fast-paced platform for launching speculative tokens has become one of the most profitable applications in the Solana ecosystem.

The theft did not derail the business. If anything, it underscored how quickly the platform scaled, and how much value was at stake inside its infrastructure.

For operators of crypto platforms, the case highlights a persistent risk. Rapid growth often outpaces internal controls. Short-term hires can gain access to systems that manage millions of dollars. When trust breaks, damage can be immediate.

The Court Rejects the Whistleblower Narrative

A central theme of Dunn’s defense was intent.

He attempted to position himself as a whistleblower rather than a thief. By airdropping the funds instead of keeping them, he argued that he was making a point about fairness, transparency, and alleged misconduct by Pump.fun.

The judge was not persuaded.

In the court’s view, exposing concerns does not justify criminal conduct. There were lawful avenues available, including reporting to authorities or regulators. Choosing instead to drain funds and redistribute them constituted fraud, regardless of motivation.

That distinction matters for the broader crypto industry, where ideological justifications sometimes blur legal lines.

A Cautionary Tale for Crypto Insiders

The Dunn case lands as a warning on multiple levels.

For developers, it reinforces that access equals responsibility. Abuse of internal privileges carries real-world consequences, even in a space that often prides itself on decentralization and anonymity.

For traders and users, it highlights another uncomfortable truth. Platforms can be profitable, fast-growing, and still vulnerable to insider risk. Due diligence does not stop at smart contracts. Operational security matters just as much.

For the wider industry, the sentence signals that courts are increasingly comfortable navigating crypto-native cases. On-chain evidence, public admissions, and clear audit trails make prosecution easier, not harder.

The End of a Meme, the Start of a Precedent

The “crypto Robin Hood” label may live on in memes. The legal precedent will last longer.

Dunn’s six-year sentence draws a firm line between protest and crime. It shows that redistributing stolen crypto does not absolve liability. And it underscores that even in the most chaotic corners of the market, traditional legal frameworks still apply.

Pump.fun continues to operate. The memecoin cycle moves on. But for insiders watching closely, the lesson is clear.

In crypto, transparency cuts both ways.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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