Pump

The Solana -based Coin Coin platform, which was obtained through a proposed lawsuit from being charged with violating US Securities Laws.

The lawsuit, which was filed on January 30, claims that every symbol created through POMP.fun constitutes an unregistered security, from which the platform benefited nearly $ 500 million as drawings.

Violations of alleged securities and investor losses

The main prosecutor, Diego Agilar, claims that he was subjected to financial losses trading three specific pumps.

According to presentationThese symbols have been strongly marketed using the M -culture, the promises of lower returns, and the temptation of investors, but in the end they lead to significant financial losses. For example, FWOG was upgraded as a maximum of $ 500 million in the market before its value decreased.

“The basic function of Pump.fun is working alongside influencers to participate in the version and marketing of unregistered securities. Its operations inherent in its operations are a new development in Ponzi plans, pump and discharge,” read the document.

Although the statute does not establish direct symbols, the complaint argues that they facilitate and organize their launch through automatic tools, allowing users to create and sell digital assets within minutes. This, according to the lawsuit, makes the company a “common source” for all the symbols that were launched on it.

The case is called Baton Corporation, registered in the United Kingdom, the alleged player for Pump.fun, three of its founders, Alon Cohen, Dylan Kerler and Noah Tweedale-as a defendant. Prosecutors seek to obtain legal relief in the form of canceling all symbolic purchases, cash damage to affected investors, and covering the costs of litigation.

Criticism and controversy

This is not the first time that the platform has faced legal action. Just two weeks ago, on January 16, Burwik Law foot The semester suit is separate on behalf of the investor, Kendall Karenhan.

This case also accused Patton Corporation and its executives of selling unregistered securities. Specifically, she targeted the Pnut code, a Solana -based Mimi currency inspired by peanuts, which allegedly reached the maximum market of one billion dollars.

The founder of the company, Max Burwick, was voice in criticizing such sites. On January 15, it is public Condemn They have “the final development of multi -level marketing fraud, the progress of human despair and the economy of digital interest.”

A day later, Purwek officially Declare Her legal campaign against the company, claiming that investors have been a victim of Mimi currency carpets and misleading promises.

Pump.fun also faced controversy after entering the direct broadcast function in November 2024 to enhance user participation. Some users soon abused this feature to broadcast explicit and disturbing content. After a general violent reaction, the company was forced to close the live broadcast, which led to a noticeable decrease in revenue.