The post Burwick Law Sues Pump.fun Over Meme Coin Rug Pulls appeared on BitcoinEthereumNews.com.

Pump.fun is facing a lawsuit from Burwick Law, which is acting on behalf of investors who lost “significant amounts of money” on the platform. The law firm has invited Pump.fun users to file an intake form and join the legal battle. Most Pump.fun users have lost money on the platform, so this suit specifically solicits investors in failed meme coins, rug pulls, or other dubious projects. A Major Legal Challenge for Pump.fun Pump.fun, a leading Solana-based meme coin launchpad, will soon face a court battle with Burwick Law. The firm is soliciting users who lost money on Pump.fun to meme coins, rugs, and unfulfilled promises. More than 60% of Pump.fun traders have lost money on the platform, so this lawsuit will focus on specific criminal acts and violations. “In the past few months, Pump.fun has collected hundreds of millions of dollars in fees while illicit drug use, self-harm, racism, antisemitism, lewd acts, bestiality, violent, and other antisocial acts were displayed on the platform. Burwick Law is proud to stand beside everyday crypto enthusiasts pursuing accountability and financial justice in Web3,” it claimed. Pump.fun has been a very popular platform in many respects, beginning 2025 with record-high revenues. However, it has also faced challenges. The platform sparked fierce debate on its role in the crypto market dilution a few months ago. Additionally, a poll from weeks before the Burwick suit showed that Solana’s founders overwhelmingly detest Pump.fun. In other words, this market hype coexists alongside a sketchy reputation. Burwick, however, is not the first entity to start a major legal battle against Pump.fun. In early December 2024, the platform ended its UK operations after pressure and stern warnings from the FCA. Before this ban took place, London police investigated a Pump.fun exploiter who claimed the platform was committing massive fraud. For…

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Filed under: News - @ January 16, 2025 12:23 am