Pump.fun’s Big Launch Put On Ice Over Legal Drama
Pump.fun's token sale, initially scheduled for June 25, has been postponed to mid-July, causing frustration among backers. The delay lacks a clear explanation, leaving investors anxious about their investments. A class action lawsuit filed by Burwick Law on January 15 accuses Pump.fun of operating as an unregistered securities exchange and manipulating token prices to attract retail investors. Users reportedly experienced significant losses after initial hype. Additionally, Burwick Law and Wolf Popper LLP issued a cease-and-desist order regarding trademark infringements related to user-generated memecoins on the platform, increasing legal risks. On June 16, Pump.fun's official X accounts were unexpectedly locked, raising speculation about regulatory or trademark owner intervention. The accounts were restored after a few days without explanation, intensifying concerns about external pressures on the platform.
