A collective appeal has been filed against Pump.fun, the same-same creation platform on the Solana blockchain, accusing it of selling unregistered titles and promote “Pump-And-Dump” diagrams. The complaint, filed on January 30, 2025 before a New York Federal Court by Diego Aguilar, alleges that all the cryptos issued on Pump. linked to these activities.
Crypto: Pump.Fun accused of promoting Ponzi?
According to the complaint, Pump.fun would have used aggressive marketing techniques to create an artificial emergency around highly volatile tokens, resulting in significant losses for private investors. The Crypto platform is accused of operating alongside influencers to emit and promote these unregistered titles, constituting an evolution of the pyramids of Ponzi and Pump-And-Dump.
Aguilar claims to have bought several same via pump.fun and seeks to obtain the cancellation of these purchases, damages for the investors concerned, as well as the reimbursement of court costs.
This legal action Following a mid-January announcement from the American legal firm Burwick Law, specializing in crypto, who was already considering a similar action against Pump.fun. The cabinet had declared that he worked for several months with individuals who have undergone significant losses due to the same, “rug sweater” and not held promises on platforms such as Pump.fun.
Pump.fun prohibited in the United Kingdom!
In December 2024, the British Markets Authority (FCA) prohibited access to Pump. In addition, the Crypto platform was criticized for having enabled the dissemination of inappropriate content during its livestreams, in particular threats of violence and anti -social acts, which led to the suspension of this functionality.
These events highlight the risks associated with investments in the same and the need for increased regulation in the crypto field to protect investors against fraudulent practices coming from platforms such as Pump.fun.
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