Burwick Law and Wolf Popper LLP Demand Baton Corp. DBA, PumpFun Immediately Remove Tokens Deployed On The Solana Blockchain By Pumpfun That Utilize Unlicensed Intellectual Property In An Effort to Impersonate Our Law Firms, And Remove The Likeness Of Any…

Pump.fun, a Solana memecoin creation platform, got into legal controversy for allegedly having coins with a name and logo resembling two famous U.S. law firms’ names and logos.

Solana memecoin creation platform Pump.fun has found itself in a legal quagmire after being accused of hosting coins with names and logos that closely resemble two prominent U.S. law firms.

In response, Burwick Law and Wolf Popper have taken legal action against Pump.fun, sending a cease-and-desist letter on February 5, demanding immediate attention to the matter.

In a tweet on X (formerly Twitter), Burwick Law expressed its dissatisfaction with Pump. Enjoying hosting tokens like “Dog Shit Going Nowhere” (DOGSHIT2) among others that unlawfully utilize their intellectual property. The law firm went on to state that over 200 tokens have been created on Pump. fun that infringe on the trademarks of Burwick Law, Wolf Popper, and their co-counsel, following a class-action case filed a week ago

Max Burwick, managing partner at Burwick Law, further elaborated on the claims, highlighting the severity of the abuses. “In response to a class action filed a week ago, Pump. fun has deployed over 200 tokens that are infringing on our and our co-counsel's IP,” confirmed Burwick.

Burwick Law Accuses Pump.fun of Financial Risks

According to Pump.fun, several tokens have been generated with varying name and logo pairings of the law firms involved in the case. Some tokens even targeted individual employees and clients in the case. Notably, Pump. fun is allegedly equipped with the technical capability to remove such tokens but has chosen not to, posing a high level of legal and financial risk to the public, according to Burwick Law.

The cease-and-desist letter also alleges that Pump.fun has worked with third parties to launch these tokens in an attempt to intimidate plaintiffs and disrupt the ongoing litigation. “These acts represent the use of blockchain technologies as a tool for disrupting justice and due process,” the letter reads.

The controversy surrounding DOGSHIT2 has attracted attention, with some accusing Burwick Law of creating the token to bolster its case. However, Max Burwick has denied these allegations, explaining that the token initially existed only as “memory on the server” and was only deployed on-chain when a buyer triggered its creation.

On January 30, Burwick Law and Wolf Popper filed a proposed class-action lawsuit in a New York federal court on behalf of investors. The lawsuit accuses Pump.fun of offering unregistered securities and alleges that the platform earned nearly $500 million in fees from the tokens. It further alleges that Pump.fun used guerilla marketing tactics to create artificial urgency around volatile tokens, leading to substantial losses for retail investors.

Pump.fun Hits $3.3B Amid Memecoin Lawsuit

The plaintiffs are seeking the rescission of all token purchases, monetary damages for affected investors, and court costs. Notably, Pump.fun is reportedly operated by a UK entity called Baton Corporation, which was not available for comment on the matter.

Despite the increased legal hurdles, Pump.fun has seen a surge in usage. According to Dune Analytics data a week ago, it hit an all-time high of $3.3 billion in trading volumes, with memecoins themed around the Trump family being a major contributor.

The case raises concerns about ongoing intellectual property violations and adherence to securities laws in the cryptocurrency domain. As memecoins continue to gain popularity, such court cases have the potential to reshape platforms for token creation and investor protection.

The legal troubles of Pump.fun serve as a cautionary tale for platforms and developers venturing into the uncharted territory of memecoins and cryptocurrencies. With the case unfolding rapidly, its resolution could have a significant impact for the entire blockchain community.