Ah, the sweet scent of legal action wafts through the air, as two esteemed law firms, Burwick Law and Wolf Popper LLP, have issued a cease-and-desist letter to the Solana-based meme coin creation platform PumpFun. The reason for this sudden flurry of activity? The unauthorized use of their intellectual property in the form of the Dogshit2 token and other related coins deployed on the Solana blockchain.
Dogshit2 Token: A Legal Nightmare 😱
According to the law firms, PumpFun has been falsely associating its tokens with their brands and likenesses, in a clear attempt to impersonate their organizations and employees. In an official statement, both Burwick Law and Wolf Popper LLP have categorically denied any involvement with the Dogshit2 token or any similar blockchain-based assets.
“Our firms have no affiliation, endorsement, or ownership interest in the Dogshit2 token or any related assets. Simply put, our firms have not launched any memecoins on-chain. Any further unauthorized use of our firms’ names, intellectual property, or association with this token may result in immediate legal action.”
Burwick Law has stated that despite having the technical capability to remove the fraudulent tokens, PumpFun has failed to take action, exposing itself and the public to significant financial and legal risks. The firms further revealed that PumpFun’s actions appear to be part of a broader effort by third parties to intimidate clients and disrupt ongoing litigation.
The firms stated that the tokens misuse blockchain technology by turning it into a tool to block justice. They confirmed that legal action will be taken to address this misconduct.
Additionally, Burwick Law and Wolf Popper LLP urged investors to exercise extreme caution, warning that Dogshit2 is being aggressively promoted in what appears to be a high-risk pump-and-dump scheme.
Meanwhile, founder Max Burwick has openly criticized these platforms, calling them an evolved version of multi-level marketing scams. Last month, Burwick accused platforms like Pump.fun of taking advantage of human desperation and the increasing influence of the digital attention economy.
Pump.fun’s Legal Issues: A Tale of Unregistered Securities 📜
The two firms filed a class-action lawsuit on January 30, claiming that Pump.fun issued unregistered securities and earned $500 million in fees. The lawsuit alleges Pump.fun, run by UK-based Baton Corporation, used aggressive marketing tactics to promote volatile tokens, causing investors substantial losses. It seeks damages, refunds, and litigation costs.
Earlier, on January 15, Burwick Law initiated a class-action suit for Kendall Carnahan against Baton Corporation, alleging the sale of unregistered securities. The lawsuit highlighted the PNUT token, a Solana memecoin linked to Peanut the Squirrel, which reportedly hit a $1 billion market cap.
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2025-02-07 01:43