POMP.fun, a prominent platform for creating and trading Memecoins on Solana Blockchain, has been slaughtered and a message by Burwick Law and Wolf Popper LLP.
The legal notification, which was issued on February 5, 2025, is accusing pump.fun of allowing the publication of symbols that violate the intellectual property rights of companies.
The essence of the message requires immediate boot of activities related to symbols such as “Dogshit2”, which, according to law, is offended the use of its names and slogans.
“Our companies have no affiliation, support, or ownership interest in the Dogshit2 symbol or any related assets. Simply, our companies have not launched any Mimxoin Onsin.”
For instant version in Burwick Law and Wolf Popper Llp Import Baton Corp. DBA, removal Pumpfun immediately immediately the distinctive symbols that were posted on Solana Blockchain by Pumpfun that use unlicensed intellectual property in an attempt to impersonate our law companies, and remove similar to any …
Souk manipulation allegations
In addition to intellectual property violations, law firms also criticize Pump.fun to contribute to deceptive market practices.
Companies argue that by allowing symbols such as “Dogshit2” to exist, POMP.fun allows a market where investors can be misled or deceived, which may lose large sums of money due to these wrong associations.
Moreover, the message indicates that the PEMP.fun platform has been used to intimidate customers and disrupt the continuous litigation by spreading symbols that are dismissed by prosecutors in related lawsuits.
Such procedures, according to law firms, represent a misuse of Blockchain technology, and convert them into a tool for undermining justice.
A lawsuit was filed against pump.fun
It follows the endowment and the status of collective lawsuits submitted by the same law firms against pump.fun.
the first, Submitted on January 16, 2025He claimed that the platform facilitated the sale of unregistered securities by promoting the Sudanese beans the distinctive symbol of the tabs.
the The second lawsuitWhich were presented on January 30, these allegations expanded, and the Baton Corporation Ltd. PUMP.fun operator, and many main forms associated with the platform.
These lawsuits claim that Pump.fun was running a commercial model similar to the pump and fragmentation system, as symbols are implemented to high reviews before their value is low, leaving investors in Lurch.
The platform is accused of profit greatly, with claims indicating that approximately $ 500 million of merchants has been extracted.
As of now, Pump.fun has not issued an official statement in response to the stop and broader allegations of the palm or allegations.
The impact of legal disputes for pump.fun on the Memecoins market
The legal and intellectual property disputes surrounding the pump.
In the short term, reinforced controversy in a contradictory price of symbols like The dog’s shit does not go anywhere (Dogshit2)Which witnessed an increase in value by 261.9 % within 24 hours of the release of the discontinuation and the palm.
This reflects the very speculative and volatile nature of the mines, as negative publicity can feed the trading of speculation.
However, the wider market impact includes a potential transformation in the investor confidence. Unregistered securities and manipulation of the market can lead to a more cautious approach from both investors of retail and institutions.
If pump.fun is found responsibility, he may face large fines or operational restrictions, which can deter the creation of new symbols on the platform, thus reducing liquidity and market depth.
Moreover, these legal procedures highlight the organizational risks associated with Memecoin platforms.
SEC audits can lead to whether these distinctive symbols should be classified as securities can lead to strict compliance requirements, which may affect the ease with which the new Memecoins is launched.
This may lead to a slowdown in the growth of the Memecoin sector, as platforms may need to adopt more stringent investor protection measures, such as KYC and AML protocols, to legally continue operations.
The Memecoin Market may also see a transformation towards more firm or organized platforms, which may benefit from competitors who have already moved in this regulatory water.
Over time, this may lead to a more mature market environment but at the expense of the current Western call that attracts many to Memecoins.
Post Pump.fun struck with a cessation and stopping of alleged intellectual property violations first appeared on Invezz
