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The Solana-based meme tokens generator Pump.fun has resumed operations after an exploit-triggered temporary halt.
However, recent developments indicated that the network for memecoin launches could be facing massive troubles.
In multiple X posts, accused fraudster Jarret Reginald Dunn is out on bail after the UK police arrested him over the weekend.
In a surprising twist, the exploiter behind the memecoin marketplace Pump Fun has reportedly bagged a free bail after his arrest in London.
The Twist in the Pump Fun Hack
Pump Fun is a Solana-based memecoin trading outlet that tried to tap into the ongoing meme frenzy in the n… pic.twitter.com/qOkJ3k8oB7— Parrot Coin (@parrot_coins) May 19, 2024
Dunn, who previously worked as a pump.fun developer is attacking the team, accusing them of running the platform as an unregistered gambling site.
“Do you believe they are more guilty of the UK equivalent of running an unregistered securities exchange or a gambling site with no license, KYC, or AML?”
He also accused the memecoin generator of using ChatGPT to fake employee contracts to attract more investors.
![](https://invezz.com/wp-content/uploads/2024/05/image-173.png)
More on Pump.fun
Pump.fun is one of Solana’s successful projects. It outpaced the SOL blockchain in a vital milestone some days before the hack, generating more than $1.2 million in 24-hour fees.
The current legal woes might see the platform halting again, denting activity on the Solana network.
Nonetheless, Dunn’s allegations against the memecoin launcher could be crumbly. For instance, on May 16, he seemed to brag about the attack.
And now; Magick: everybody be cool, this is a r o b b e r y. What it do, staccattack? I'm about to change the course of history. n then rot in jail. am I sane? nah. am I well? v much not. do I want for anything? my mom raised from the dead n barring that: /x
— 🔥🪂staccoverflow ; j'arrête ; (@STACCoverflow) May 16, 2024
The post Former staff accuses Solana (SOL) memecoin generator of illegal activities appeared first on Invezz
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