US law firm accuses Pumpfun platform of being a 'manipulated casino'

Burwick Law, a US law firm, recently resubmitted a lawsuit against Pumpfun, Solana Labs, and related executives, accusing them of building a "manipulated, unauthorized gambling platform" and organizing large-scale sales activities. The lawsuit materials cited private chat records, stating that Pumpfun co-founder Alon Cohen had stated that most investors involved in Meme coin trading on the platform would lose money and likened such trading to high-risk gambling. The indictment lacks direct evidence to prove the personal profits of executives, and some charges rely on indirect transmission. Whether it constitutes "market manipulation" is still pending in court.