Wales for Pump.fun, the platform that allows the launch of Meme currencies on Solana, accumulates. A The second lawsuit It was presented against the platform, claiming that it is involved in fraudulent activities and ended the laws of US stock.
This development joins the increasing scrutiny against Mimi currency projects, especially those accused of being pump and discharge plans.
A new lawsuit claims securities violations
The classic complaint, which was submitted by Burwik Lolf Popper LLP, claims that pump.fun Unregistered securities are assembled that disguise as MI metal currencies.
In the complaint, he claims that The company has misled investors In buying symbols that had nothing but fundamental value to the informed who benefited from their expense. It raises a set of regulatory questions related to Meme’s coin platforms – whether they fall under the jurisdiction of securities laws or not.
** Alert the case **
Burwik Law and WolfPPPERLP A federal lawsuit for the federal class was filed on behalf of the investors against the Pumpotfun platform.
Full complaint is available below.
Burwick Law (Purwicklaw) January 30, 2025
The legal team is arguing that Pump.fun’s operations are similar to classic financial fraud tactics. By allowing fast construction and trading Mimi currenciesThe platform may have facilitated the plans as the first investors benefit from the cost of subsequent expatriates.
This lawsuit follows a former legal procedure targeting pump.fun for similar reasons, indicating a pattern of legal challenges of the platform.
The organizers and experts weigh
Experts and legal organizers closely follow the development of the situation, with some use of a comparison between the specific platform model and multi -level marketing fraud.
The founder of Burwik Lu, Max Burwik was frank regarding the various risks involved in the Mimi currency platforms, saying that it is located in a gray area where the next enforcement will be strict.
Through impending legal ads, I want to create my personal position on the exploitation of Memecoins is widely available. Read it below. Do not hesitate to participate! pic.twitter.com/adndcqnrxh
– Max Burwick (Purwick_Max) January 15, 2025
The encryption market aims to reduce illegal financial activities, so platforms like Pump.fun may have a lot of pressure to follow the current laws.
Investor protection groups have also sought to make clear rules about Meme currencies, setting and classifying them under the Securities Law. If Pump.fun is convicted of selling unregistered securities, this may be a standard for other encryption sites.
The noise or manipulation of the market for the Mimi coin?
The lawsuit also refers to a more general case: the debate about Meme currencies. For some, these are the light and enjoyable sides of the encryption market. However, for others, they create a way to collective manipulation in the markets.
Meme coins often see a very rapid rise and fall, which leads to huge losses for late investors, as critics say places like Pump.
Distinctive image from CCN, tradingView graph
