Solana Price Falls as Former Pump.fun Dev Jailed Over Theft

Solana’s market value has declined recently, coinciding with legal troubles involving a former developer of the memecoin launchpad Pump.fun. The developer, Jarett Dunn, is currently incarcerated in London after breaching bail conditions related to a theft of company funds [1, 2].

Key takeaways:

• Solana (SOL) is trading at $75.04, down 4.86% in the last 24 hours [1].
• Former Pump.fun developer Jarett Dunn stole approximately $2 million worth of SOL tokens [2].
• Dunn was jailed for breaching bail and faces at least seven years in prison [2].
• Pump.fun has reportedly generated over $770 million in lifetime revenue [2].

Developer jailed after bail breach

Jarett Dunn, a former senior developer at Pump.fun, exploited his access to private keys during a six-week employment period in May 2024 to drain funds from bonding curve contracts. The stolen SOL tokens, valued at roughly $2 million, were intended for transfer to the Raydium decentralized exchange but were instead diverted to unrelated wallet addresses. Dunn subsequently airdropped the tokens to random holders of various Solana tokens and NFTs [2].

Dunn initially pleaded guilty to fraud charges in October 2024 but later attempted to withdraw his plea. His legal team resigned, and he breached bail conditions in early June 2025 by moving from London to Liverpool without authorization. He was arrested and is currently held at HMP Pentonville, awaiting a hearing to withdraw his guilty plea [2].

Solana market performance

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