Pump.fun lawsuit advances with amended complaint approval as unverified rumors claim CEO detention in Brazil swirl on social media.

The class action lawsuit against Solana memecoin platform Pump.fun has reached a critical juncture. 

Judge Colleen McMahon granted plaintiffs leave to file a second amended complaint. This decision marks a key turning point in the ongoing legal battle against the platform.

Court Approves Amended Complaint Filing

Court documents reveal serious allegations against pump.fun. 

Plaintiffs claim they have obtained substantial new evidence to support their case. The lawsuit alleges securities violations, RICO charges, and unjust enrichment. 

Pumpdotfun & Solana lawsuit update:

Leave to amend (file new complaint) GRANTED

“What appeared to be a fair, automated marketplace was, Plaintiffs say, structurally tilted to extract value from ordinary users while rewarding those with privileged access to Solana’s… pic.twitter.com/mctvXdWScM

— Burwick Law (@BurwickLaw) December 15, 2025

Claims suggest the marketplace was systematically rigged against ordinary users. 

The platform allegedly favored those with privileged access to Solana’s infrastructure and Jito Lab’s transaction ordering tools. Defendants attempted to dismiss the motion but were unsuccessful.

Rumors of Pump.fun CEO Detention in Brazil Spread 

Speculations have emerged regarding pump.fun CEO Alon Cohen’s whereabouts. Social media posts claim Cohen was detained in Brazil and faces potential U.S. charges. However, no credible sources have confirmed these allegations. 

🚨 BREAKING NEWS

The https://t.co/O8GS2tU0j5 CEO, @a1lon9, has reportedly been detained in Brazil and is expected to face charges in the United States 👀

This may explain why Alon has not tweeted since then. pic.twitter.com/mTpXVoB2eW

— Orange (@OAGInfinity) December 17, 2025

Cohen’s last activity on X was on November 11, 2025. The rumors remain unsubstantiated as yet neither law enforcement nor official sources have validated any detention claims.

 

The post Pump.fun Lawsuit Escalates as CEO’s Brazil Detention Rumors Spread appeared first on Live Bitcoin News.

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Filed under: Bitcoin - @ December 17, 2025 1:18 pm