Odaily Planet News: Recently, the U.S. law firm Burwick Law refiled a lawsuit against Pumpfun, Solana Labs, and relevant executives, accusing them of building a "manipulated, unauthorized gambling platform" and allegedly organizing large-scale pump-and-dump schemes.
The litigation materials cite portions of private chat records indicating that Pumpfun co-founder Alon Cohen once stated internally that "most investors participating in Meme coin trading on the platform will suffer losses," and compared trading in these low-market-cap tokens to high-risk gambling. The plaintiff also cites an anonymous KOL, claiming that some promotional activities involved insider knowledge of token information and coordinated timing for dumping tokens.
However, the report noted that the indictment lacks direct evidence showing that Pumpfun executives personally profited from the related activities, and some of the charges rely on indirect accounts with limited evidentiary strength. Whether it constitutes "market manipulation" remains to be determined through further court proceedings and evidence collection. (DL News)