Burwick Law and Wolf Popper LLP have issued a cease-and-desist letter to Pump.fun, demanding the removal of tokens that allegedly misuse their branding. The firms accuse the Solana-based platform of enabling fraudulent schemes and warn of legal action.
Law Firms Demand Removal of Fraudulent Tokens on Solana-Based Platform
Two law firms, Burwick Law and Wolf Popper LLP, have issued a cease-and-desist letter to Pump.fun, a Solana-based meme coin platform, demanding the removal of tokens that allegedly misuse their intellectual property and the likenesses of their employees. The firms argue that the unauthorized tokens falsely associate them with cryptocurrencies they have no affiliation with.
Cease-and-Desist Issued Over Misuse of Law Firm Branding
Burwick Law and Wolf Popper LLP cited a specific token that uses their branding, warning that continued use of their names could lead to immediate legal action. They emphasized that neither firm has issued or endorsed any meme coins or blockchain-based assets.
Beyond intellectual property concerns, Burwick Law accused Pump.fun of facilitating tokens designed to intimidate plaintiffs involved in ongoing federal securities violation cases. They alleged that blockchain technology is being misused to obstruct legal proceedings and vowed to pursue legal remedies against any entities engaged in these activities.
Pump.fun’s Alleged Role in Market Manipulation
The law firms claim that Pump.fun has the technical ability to remove the disputed tokens but has refused to act, allowing fraudulent schemes to persist. Burwick Law specifically flagged one meme coin as being promoted in a high-risk pump-and-dump scheme, warning that such practices create financial risks for investors.
This legal action follows a class-action lawsuit filed against Pump.fun in the Southern District of New York. The lawsuit, led by plaintiff Diego Aguilar, alleges that Pump.fun and its operators violated federal securities laws by issuing and selling unregistered securities in the form of meme coins.
Commitment to Investor Protection
In a public statement, Burwick Law and Wolf Popper LLP reaffirmed their commitment to protecting investors from fraudulent market practices. They pledged to work with government authorities to ensure accountability for those responsible.
As legal pressure mounts, investors are advised to conduct thorough due diligence before engaging with meme coin platforms.
For further updates on this developing case, follow legal and regulatory announcements regarding cryptocurrency compliance.
