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Former Employee Claims Arrest and $1.9M Exploit, Now Out on Bail in UK

A former employee of memecoin creation and trading platform, alleged to have carried out a recent $1.9 million exploit, claims he was arrested and is now on bail in the United Kingdom.

On May 16, the X user “STACCoverflow,” who revealed his identity as Jarett Dunn, took responsibility for the attack. alleges Dunn exploited a “privileged position” to access a “withdraw authority,” compromising the protocol’s systems.

In a series of posts on a different X account on May 18, Dunn claimed he “spent overnight in custody” and was charged with “theft from employer” for $2 million and conspiracy to steal an additional $80 million.

He added he was “released on bail and mental health sectioned.”

Dunn stated he is currently in a hospital, posting from an iPad provided to him.

He mentioned his mental health “was taken into question,” making him likely “unfit for [police] interview.”

This interview may occur after his bail if he is deemed fit for questioning.

A Canadian national, Dunn said the local embassy emailed his family “a list of lawyers,” but he is “not able to communicate with them” until he retrieves his devices, of which “2/5 are seized.”

READ MORE: Notorious Crypto Drainer Pink Drainer Retires After Stealing Over $85 Million

He mentioned he still has his passport and was not informed that he could not leave the country.

In a message to another X user, The Rollup, Dunn reportedly said he must return to a police station on August 15. The account also claims a private intelligence company was hired to locate Dunn in London.

In another X post, Dunn urged U.K. citizens to file charges against a locally-based company he claimed was a entity.

He said his bail conditions prohibit him from communicating with the firm and its CEO. did not respond to a request for comment.

The private intelligence firm allegedly involved in locating Dunn did not immediately respond to a request for comment.

London’s Metropolitan Police Service told Cointelegraph it does not name people who may or may not have been arrested.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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