Jarett Dunn, former developer of Solana-based MemeCoin Platform Pump. funpleaded guilty to fraud by abuse of crime and transfer of criminal property. He admitted to stealing nearly $2 million in SOL from the project shortly after joining the team. Dan is now It’s being held in a London prison after violating bail terms.

He was detained for bail violations

Dan originally pleaded guilty in 2023, but he later tried to withdraw the plea in court. That effort I didn’t do it work. His legal team stepped in and the case stopped for several months. Things got worse when Dan was still under bail restrictions while he was moving to Liverpool. Authorities pursued him, arrested him again and moved him to HMP Pentonville.

https://t.co/m6luwkz35uEmployee Stolen Item $2 million: plead guilty in court!

In May 2024, Jarrett Dunn, former developer of the Solana-based MemeCoin platform, carried out a flash loan attack. Remove the loan, manipulate the binding curve, ejection of ~12,300 Sol…

– 21borov (@21_borv) August 15th, 2025

If you turn the corner and pass a sentence, the penalty may be severe.

Dan I’m expecting In Get a verdict Within two weeks. The fees he faces are Serious If classified as a first-class attack, it is enough to land him behind the bar for over seven years. Wideer impact on pumps. fun It was important. The team estimates they lost as much as $12.8 million in damages, not just stolen funds, but also downtime transactions, reputational damage and reduced platform activity.

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Mental health adds complexity to your case

Court documents show that Dan has a long history of mental health challenges, including diagnosing schizoaffective bipolar disorder, panic disorder and ADHD. He also struggled with the use of substances and was taking medication at the time of theft. When police first arrested him, he was reportedly not worthy of the question. He later spent two weeks under hospital care, but that It will be considered Judgment underway.

24 hours7d30D1Yeverytime

Inside Job Exposed LaunchPad Risk

Dan was at the pump. fun Only 6 weeks will he use his developer access Quietly extract the sol from the binding curve contract. After moving the funds, he had scattered them across multiple wallets, making recovery almost impossible. His actions suggested that he might have considered it some. It’s a vigilante stunt, but I didn’t do it Protect him from criminal charges. This violation highlighted the risks crypto startups face when internal controls are loose or in a hurry.

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Despite the scandal, the pump. fun it’s not It slowed down

Surprisingly, the platform has only grown since the incident. Pump.fun bounced and unfolded with the launch of a $600 million token My own It exceeded $770 million in pump tokens and record-high revenue. There are currently major spots Solana The growing Memocoin ecosystem. The scandal may have derailed the project, but it appears to have accelerated its growth in several ways.

Dan’s Cases are reminders of how quickly things can helix in cryptography. One of the past, with access and trouble, has been able to shake up the multi-million-dollar platform. Now the court will decide whether mental health, regret and cooperation will be heavy enough to affect his sentence, or whether it will use this as a cautionary substance about what goes wrong when the industry is misguided.

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Sumit Gupta, CEO of Indian crypto exchange CoinDCX, has publicly denied reports suggesting the company is in acquisition talks with US-based crypto platform Coinbase.

The speculation emerged after a Livemint report claimed that negotiations were underway between the two crypto trading platforms.

However, Gupta quickly dismissed the claims in a July 29 post on X (formerly Twitter), saying:

“Ignore the rumours! CoinDCX is ‘super focused’ on building for India’s crypto story and not up for sale!”

Mridul Gupta, a co-founder and senior executive at CoinDCX, also shared this view and labeled the report “false.” He noted that rather than planning an exit, the company is actively expanding and recruiting talent across various departments.

Coinbase is the largest US-based crypto trading platform. The firm halted its Indian operations in 2022 under regulatory pressure. re-entered India in March after it secured a key regulatory nod from India’s Financial Intelligence Unit (FIU).

Since then, the exchange has made no further announcements about its plan for the Asian country.

CoinDCX security breach

The rumors surfaced after a $44 million security breach on CoinDCX, allegedly orchestrated by North Korea’s Lazarus Group.

Blockchain analytics firm Cyvers identified attack patterns consistent with previous Lazarus operations, including cross-chain bridges and Tornado Cash to obscure fund flows.

According to Cyvers, the attackers likely exploited exposed API keys or misconfigured backend systems, allowing them to transfer assets from the Solana blockchain to Ethereum and launder them anonymously.

In response to the exploit, CoinDCX introduced an $11 million bounty initiative offering up to 25% of recovered assets. The program aims to engage ethical hackers, researchers, and blockchain firms in asset recovery efforts.

Despite this attack, CoinDCX remains one of India’s largest digital asset platforms, managing over $161 million in customer assets and processing around $14 million in daily trading volume, according to CoinMarketCap data

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The Taiwanese cryptocurrency exchange BitoPro claims the North Korean hacking group Lazarus is behind a cyberattack that led to the theft of $11,000,000 worth of cryptocurrency on May 8, 2025.

The company has attributed the attack to Lazarus based on the evidence recovered from its internal investigations. It notes that the attack patterns and methodology closely resemble those used in past cyberattacks.

“The attack methodology bears resemblance to patterns observed in multiple past international major incidents, including illicit transfers from global bank SWIFT systems and asset theft incidents from major international cryptocurrency exchanges,” reads the announcement.

“These attacks are attributed to the North Korean hacking organization Lazarus Group.”

BitoPro is a cryptocurrency exchange that caters primarily to Taiwanese users, supporting fiat deposits and withdrawals in TWD and a selection of crypto assets.

It has over 800,000 registered users and a daily trading volume of roughly $30 million.

On May 8, 2025, during a hot wallet system update, hackers performed unauthorized withdrawals from an old hot wallet across multiple blockchains, including Ethereum, Tron, Solana, and Polygon.

After the theft, stolen funds were laundered through DEXs and mixers like Tornado Cash, ThorChain, and Wasabi Wallet.

BitoPro was slow in admitting the incident, only confirming it publicly on June 2, noting that all operations were unaffected and impacted hot wallets were replenished by available reserves.

The investigation into the hack now confirmed that there was no internal involvement, even though the attackers launched a social engineering attack and implanted malware on the device of an employee managing cloud operations.

Through this infection, the attackers hijacked AWS session tokens to bypass multi-factor authentication (MFA) and gain control over BitPro’s cloud infrastructure.

Next, the command-and-control (C2) server delivered commands to the implant that injected scripts into the hot wallet host as the attack was being prepared.

When the wallet was upgraded and assets transferred, the attackers stole crypto while simulating normal operational behavior to evade immediate detection.

Once BitoPro detected the compromise, they shut down the hot wallet system and rotated the cryptographic keys. However, roughly $11 million worth of cryptocurrency had already been stolen.

The company informed the applicable authorities and engaged with an external cybersecurity expert to investigate the incident, a process completed on June 11.

The North Korean Lazarus group is notorious for targeting cryptocurrency and decentralized finance entities. The hacking group is believed to be responsible for record-breaking digital asset heists, most recently, the $1.5 billion theft from Bybit.