The post Trader suing Pump Fun still uses the platform appeared on BitcoinEthereumNews.com.

The lead plaintiff in a recently filed lawsuit against memecoin platform Pump Fun is reportedly still using the site despite having lost almost $50,000 trading its tokens. In the lawsuit filed yesterday by Burwick Law, its main plaintiff was shown to have lost $231 trading the Peanut the Squirrel (PNUT) memecoin. However, tracing the trader’s address reveals that his wider Pump Fun trades have lost him a total of $49,535. So I dug into the plaintiff a little bit more. Not only is he down $50k on pump​.fun trades, he’s kept trading there even after the lawsuit was filed. pic.twitter.com/CWltA3mJQO — Molly White (@molly0xFFF) January 17, 2025 Molly White shared transactions that revealed he continued to trade after the lawsuit was filed. Crypto journalist Molly White first detailed the losses, noting that the lawsuit failed to include a decimal in the token’s volume, leading some to claim that he would’ve been a billionaire if he’d held. Instead, White notes, it would’ve been closer to a $16,000 profit based on the coin’s current prices.  “There’s not even 1 billion PNUT tokens in circulation, much less 24 billion, nor is there anywhere near enough trading volume to value someone’s PNUT token holdings at $16B lol,” she said. Pump Fun founders are in their twenties Pump Fun is led by 21-year-old CEO Noah Bernhard Hugo Tweedale, who founded the platform alongside CTO Dylan Kerler, 21, and pseudonymous COO Alon Cohen, 23. The lawsuit names all three as defendants, as well as Pump Fun’s operator, Baton Corporation.  According to online filings, Baton Corporation was incorporated in March 2023 and bases its offices in a business park in the town of Bury St. Edmunds. The Pump Fun office (sourced from Google Images). Read more: ZachXBT says potential Pump Fun plaintiffs aren’t actual victims The lawsuit…

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Filed under: News - @ January 17, 2025 7:19 pm