ChainCatcher report: According to a publicly disclosed legal letter, Bracket Company Inc., the entity behind Pump.fun, sent a cease-and-desist letter to Shaw Walters, founder of Eliza Labs (X handle @shawmakesmagic), on October 29, 2026, through the law firm Brown Rudnick. Pump.fun alleges that Walters unlawfully copied, reverse-engineered, and planned to publicly release its source code, violating U.S. copyright law and the platform’s terms of service.
The legal notice states that, between October 27 and 28, Walters posted a series of messages on the X platform claiming to have reverse-engineered 97.6% of the Pump.fun contract source code, with 80% matching the original contract byte-for-byte, and planned to add both frontend and backend code to a repository, offering project tokens $PMUP as rewards to contributors. Pump.fun demands that Walters immediately cease such activities and refrain from publicly releasing the source code, explicitly stating that such reverse engineering constitutes an illegal act.
Pump.fun Sues Eliza Labs Founder for Alleged Reverse Engineering of 97.6% of Source Code
ChaincatcherShare
Summary
The parent company of Pump.fun filed a lawsuit against Shaw Walters, founder of Eliza Labs, alleging he reverse-engineered 97.6% of its smart contract code. On-chain data shows Walters posted plans to publish the code on a public repository and offer $PMUP token bounties. This development has drawn attention to altcoins to watch, as the legal action could influence open-source practices in the space. Pump.fun claims the act violates copyright law and its terms of service.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.