TechFlow reports that Canadian developer Jarett Dunn (Twitter username Stacc) pleaded guilty on Monday at Wood Green Crown Court in London to fraud by abuse of position and transferring criminal property. In May, Dunn stole approximately $2 million worth of tokens from Solana meme coin platform Pump.fun and airdropped them to random wallet addresses.
The judge indicated that given the seriousness of the offense, Dunn could face a minimum of seven years in prison. However, the final sentence may be reduced due to mitigating factors such as Dunn's guilty plea and mental health issues. Dunn stated he suffers from mental illness and did not fully understand the illegality of his actions at the time of the crime. Sentencing is scheduled for October.
