Jarrett Dunn, the alleged hacker behind the Pump Enjoyable exploit, has been granted bail after his arrest in London. Dunn, identified on-line as StaccOverflow, is accused of siphoning almost $2 million from memecoin market Solana on Could 16. Nonetheless, in a stunning twist, Dunn pleads not responsible.
As a substitute, he claims the true crime lies with Pump Enjoyable itself.
Pump Enjoyable: Alleged Theft or Robin Hood Act?
Pump Enjoyable aimed to capitalize on the memecoin craze that has swept the crypto world. Nonetheless, the platform remained obscure till Dunn’s alleged hack introduced it into the highlight.
Whereas particulars stay sketchy, Dunn, posting from one other on-line account whereas in custody, says he plans to problem the cost (“argue with the Crown,” he says) by portraying Pump Enjoyable as the true criminals.
It’s fascinating to notice that Dan’s arrest got here after his final social media submit on X, wherein he subtly revealed his id. In response to his personal posting on X and the intelligence firm, Dunn was launched on bail after his arrest.
I’m as soon as once more with out my 2fa for some time. I spent the evening in jail because the pump workforce claims I stole 2 million of their felony earnings, conspiring to steal one other 80 million.
/x https://t.co/D8CBjdB9nG
— free stacc (@jarettdunn) May 18, 2024
Dunn’s allegations paint an image of a doubtlessly fraudulent operation. It alleges that Pump Enjoyable operated as an unregistered inventory alternate or playing website with out a correct license. As well as, it claims that the platform has did not implement Know Your Buyer (KYC) or Anti-Cash Laundering (AML) protocols, elevating the specter of potential criminality.
His claims transcend monetary rules. Dunn claims Pump Enjoyable is blacklisted by Saudi Arabia for working as a on line casino and accuses them of deceptive traders by presenting a minimal staffing construction whereas doubtlessly using overseas employees.
Essentially the most surprising allegation entails insinuations of “baby abuse intent,” although Dunn affords no concrete proof past the opportunity of a subpoena for the Telegram communications.
The Wild West of Crypto: Hacks, Refunds and Courtroom Battles
The validity of Dunn’s claims stays to be investigated. Nonetheless, the case highlights the usually murky moral panorama surrounding crypto hacks.
Dunn is just not the primary hacker to problem the established order. In 2021, the notorious Poly Community hack led to the restoration of greater than $610 million in stolen funds. This incident prompted the hacker with a conscience to return the ill-gotten cash.
Unresolved questions and a hazy future
The Pump Enjoyable hacking case raises extra questions than it solutions. Will Dan’s accusations maintain up in court docket? What have been his actual motives for the hack? Does his protection technique characterize a brand new frontier in crypto-crime, the place hackers change into self-proclaimed vigilantes in opposition to perceived injustices within the system?
Featured picture from humisec.be, chart from TradingView
