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Maxim
@spikelov
🚨 PumpFun Scandal Explodes PumpFun’s official accounts — and even its founder — have been banned from Twitter. But this is just the beginning… A lawsuit has now been filed against the project. It all started with a complaint from an investor who lost $231 on the token $PNUT. But a deeper investigation by attorneys uncovered much more serious accusations: 🔥 Allegations against PumpFun: • Classic Pump & Dump schemes • No KYC or AML procedures • Marketing targeting minors and vulnerable groups • Allowing creation of tokens with racist, antisemitic, and violent names — including school shooting glorification and Holocaust imagery 👤 The team behind PumpFun: • Noah Tweedale – CEO • Alon Cohen – COO • Dylan Kerler – CTO They are accused of building an "ecosystem of fraud" and pocketing millions via fees. The lawsuit also argues PumpFun violated the Howey Test: • Investors expected profits • Token value relied on project-led marketing • No real utility — just pure speculation 💥 Potential consequences: • Massive fines • Lifetime bans from financial markets • Prison time for securities fraud 📉 Estimated fine: $500 million If this lawsuit proceeds, it could become the biggest meme coin court case ever — and might trigger harsher regulations across crypto.
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