Burwick Law and Wolf Popper LLP have filed a federal class action against the Solana-based decentralized platform for launching meme coins, Pump.fun.
The launchpad has faced ongoing criticism from community members, as many speculative tokens created on Pump.fun have seen millions in market cap, yet the profits were largely concentrated in the hands of fewer than 10% of investors.
The Solana-based launchpad Pump.fun, introduced in January 2024 by pseudonymous developer Alon, is now at the center of a major legal dispute. Law firms Burwick Law, specializing in digital consumer protection, and Wolf Popper LLP, a leading class-action litigation firm focusing on securities fraud, have filed a federal class-action lawsuit against the platform. The allegations accuse Pump.fun of exploiting vulnerable retail investors by promoting and trading controversial meme-coins, with the platform having facilitated the launch of 6.12 million tokens.
Pump.fun operated a live streaming feature until Novem

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