Traders who sued for losses are still using the platform

Odaily Odaily report: In a recent lawsuit filed by the law firm Burwick Law against pump.fun, the main plaintiff was proven to have lost $231 when trading PNUT. However, tracking the address of the trader shows that they have lost a total of $49,535 in other transactions on pump.fun, indicating that they are still using the website after filing the lawsuit. It is understood that pump.fun is led by 21-year-old CEO Noah Bernhard Hugo Tweedale, who co-founded the platform with 21-year-old CTO Dylan Kerler and 23-year-old alias COO Alon Cohen. The lawsuit names these three individuals and Baton Corporation, the operator of pump.fun, as defendants. According to online documents, Baton Corporation was established in March 2023 and is located in a business park in the town of Bury St Edmunds. The lawsuit is filed on behalf of a group of PNUT buyers, but the leading investor in the lawsuit, Kendall Carnahan, is the only named plaintiff. The lawsuit also alleges that pump.fun sold and offered PNUT as unregistered securities, but emphasizes that there is no allegation of fraudulent intent by Baton Corporation, and seeks a jury trial and an economic amount to be determined at trial for the plaintiff. (Protos)