Meme Coin Platform 'PumpFun' Faces Class Action Lawsuit for Securities Law Violation in the US
- It was reported that 'PumpFun' is embroiled in a class action lawsuit for violating US securities laws, with approximately $500 million in fees being questioned.
- The main issues of the lawsuit are the sale of unregistered securities and allegations of a Pump & Dump scheme by PumpFun.
- The lawsuit is a result of claims that the founders of PumpFun manipulated the market, causing numerous victims.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The meme coin issuance platform 'PumpFun' has been embroiled in a class action lawsuit for alleged violations of US securities laws.
According to industry sources on the 31st (local time), PumpFun users filed a lawsuit against PumpFun's parent company 'Barton Corporation' and three founders in the Southern District Court of New York. The plaintiffs claim that PumpFun systematically planned a 'Pump & Dump' scheme, promoting and selling unregistered securities to collect approximately $500 million (about 680 billion KRW) in fees.
Additionally, participants in the lawsuit criticized that the founders of PumpFun manipulated the market with a structure similar to a Ponzi scheme, packaging it as a legitimate investment opportunity through aggressive marketing, resulting in numerous victims.

Doohyun Hwang

cow5361@bloomingbit.ioKEEP CALM AND HODL🍀PiCK News
Truthfi Registers Trademarks for Six Products Including 'Bitcoin Plus ETF'
5 hours ago
U.S. Initial Jobless Claims at 219,000, Exceeding Wall Street Expectations
5 hours ago
Bank of England Cuts Base Rate by 25bp to 4.5% Annually
7 hours ago
'DeepSeek Phobia' Spreading... Could It Affect Bitcoin?
8 hours ago
"U.S. Drives Crypto Asset Promotion... Urgent Need for 'Phase 2 Legislation' in Korea"
9 hours ago