Based on Bijing.com, a U.S. federal court is advancing a class-action lawsuit against Pump.fun, Solana Labs, the Solana Foundation, and Jito Labs, alleging market fairness issues. The case centers on experienced traders using MEV tools and infrastructure advantages to gain favorable transaction order during token launches, causing estimated losses of $4.4 to $5.5 billion for retail investors. The court's adoption of whistleblower information marks a shift from speculation to formal legal review, challenging the notion that public trading alone ensures fair execution.
U.S. Federal Court Probes Solana MEV Operations, Questions 'Fair Launch' Claims
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Summary
A U.S. federal court is moving forward with a class-action lawsuit against Pump.fun, Solana Labs, the Solana Foundation, and Jito Labs, citing unfair market practices. On-chain data reveals traders with MEV tools and infrastructure access manipulated token launch order, costing retail investors $4.4 to $5.5 billion. The court’s use of whistleblower info signals a formal legal review. Altcoins to watch may face renewed scrutiny as the case challenges the fairness of public trading mechanisms.
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