Two law firms, Burwick Law and Wolf Popper LLP, denounced Pump. I created a controversial meme coin using intellectual property, Dog Shit Goes Nowhere (Dogshit2). Companies also denounced the pump. He tried to blackmail his client.
The allegations are as both companies pursued a class action lawsuit against Pump.Fun, claiming the platform has promoted widespread securities fraud. We also called LaunchPad to make it easier for users to create and trade unregistered tokens.
Dogshit2 is rising amid legal issues in Pump.Fun
On Thursday, the suspension and denial letter dated February 5, 2025 was shared on X (Twitter). Burwick Law and Wolf Popper LLP claimed that Pump.Fun was quickly removing Dogshit2 and other tokens, impersonating the company and its employees.
“… Further misuse of our company’s name, intellectual property, or its association with this token could lead to immediate legal action,” the post read.
The controversy surrounding Dogshit2 began when Burwick Law filed court documents in his first lawsuit against Pump.Fun. It included an exhibition showing that users can easily create tokens on the platform. The company also accused the pump of allowing rug pulls and failing meme coins.
However, Crypto analysts quickly noticed that the wallet address referenced in the lawsuit was linked to Dogshit2. This revelation led to speculation that the Berwick Act or its affiliates accidentally created the token.
The law firm has vehemently denied any involvement in launching or profits from Dogshit2. Specifically, he said that the tokens exist only as “memory on the server” until they are purchased and deployed by unknown parties.
Despite Burwick’s denial, Dogshit2 continues to attract investors’ attention. At its peak on January 31st, the token’s market capitalization exceeded $23 million. According to the company, it fell to about $8.2 million. Coingecko data, price has risen Over 200% since the session was held on Thursday.
The role of the Pump.Fun platform in conflict
Meanwhile, the main question of the legal battle is whether Pump.Fun intentionally allowed the creation of tokens designed to impersonate law firms involved in the lawsuit and plaintiffs. The law firm claims that Pump.Fun has the technical ability to remove disputed tokens, but refuses to do so.
“The Berwick Act confirms that Pump.Fun has the technical ability to remove these tokens and does not act despite the clear financial and legal risks brought to the public. I chose to do so,” the law firm added.
They further argue that Pump.Fun’s actions represent efforts to interfere with ongoing litigation and to threaten investors to pursue claims against it. Companies warn that such tactics can undermine the legitimacy of blockchain technology by using it to interfere with appropriate processes and manipulate public perception.
Pump.Fun has not publicly commented on the threat claim. However, LaunchPad advertises it simply provides an open platform for token generation.
Meanwhile, scrutiny of regulations regarding memecoin platforms has increased, particularly as high-risk pumps and dump schemes grow. However, in the case of Pump.Fun, this is added to the list of controversies after analysts denounce it to delay the Altcoin season. Most Solana founders also have negative feelings about the platform.
Nevertheless, it is impossible to forget the amazing start of the Solana Meme Coin Launchpad year. As reported by Beincrypto, the platform recorded a notable $14 million in daily revenue on January 2nd, accounting for 52.8% of Solana Dex transactions in December.
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