As per Bijing.com, a new lawsuit claims that over 5000 private messages between Solana Labs and Pump.fun engineers reveal organized market manipulation on a meme coin issuance platform. The case has brought regulatory pressure on Solana's high-speed ecosystem, with reports showing that over 93% of token pools on some decentralized exchanges (DEXs) exhibit 'rug pull' characteristics. The increasing legal risks in the meme coin space have also weighed on SOL trading.
New Lawsuit Alleges Market Manipulation in Solana Meme Coins via 5000 Private Messages
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Summary
A new lawsuit claims over 5000 private messages show Solana Labs and Pump.fun engineers coordinated to manipulate meme coin prices. Market performance on the platform has drawn regulatory scrutiny, with 93% of token pools on some DEXs showing rug pull risks. The legal pressure has also impacted Solana’s market cap, as SOL prices show signs of weakness.
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