Pump.fun Revenue Soars 1650% Despite Ex-Developer's Jail Sentence

Jarett Dunn, a former senior developer at Pump.fun, has been jailed in a London prison after violating his bail conditions. This development comes as the platform, which Dunn was involved with, has reportedly generated $770 million in revenue just 17 months after its launch. Dunn, a Canadian national, was once a senior developer at Pump.fun. But after just six weeks on the job, he pulled off a dramatic internal theft, draining $2 million in funds from the platform in 2023. Dunn admitted to transferring the stolen crypto to random wallets, a move he later described as an attempt to “kill” the platform before it caused more harm.

He initially pleaded guilty to fraud and the transfer of criminal property. However, during what was supposed to be his sentencing in October, Dunn surprised the court by trying to withdraw his guilty plea, causing his legal team to walk away from the case. While awaiting a court decision on his plea reversal, Dunn broke his bail conditions by relocating from London to Liverpool without permission. This triggered his remand in custody. He was first held in Walton Prison and then transferred to HMP Pentonville in London by July 2025.

Despite the circumstances, Dunn appears unfazed. On X (formerly Twitter), he claimed prison life is manageable, even joking that the food is better and cheaper than living alone. His friend Mark Kelly, who has been in contact with him via prison calls, described Dunn as “remarkably zen” given the situation. While Dunn faces at least seven years in prison, the company he once tried to sabotage has only grown stronger. Pump.fun completed a $600 million ICO earlier this week and officially launched its PUMP token. It now ranks as the 68th largest crypto by market cap.

Back when Dunn carried out the attack, Pump.fun had made just $43.9 million in revenue. Today, it has exploded to $770 million, per data from Dune Analytics. It’s become a hub for viral meme coins like Moo Deng, Chill Guy, and even the oddly named Fartcoin. Despite causing real financial harm to traders, some corners of the internet hailed Dunn as a sort of “crypto Robin Hood.” His supporters claim he exposed a flawed system that enabled pump-and-dump schemes and shady marketing tactics. In a now-infamous Spaces chat, Dunn said he wanted to destroy Pump.fun before it could hurt more people.

Still, the results speak for themselves. Pump.fun not only survived—it thrived. The platform's revenue milestone underscores the growing interest and investment in decentralized finance (DeFi) and blockchain technology. The platform's ability to attract significant capital despite the legal issues surrounding its former developer highlights the resilience and potential of the DeFi sector. The situation also raises questions about the regulatory environment for blockchain and cryptocurrency platforms, as well as the potential risks associated with investing in these emerging technologies.