On 6/2, law firms Burwick Law and Wolf Popper sent a warning letter to Pump.fun - a platform that creates memecoins - demanding the "immediate removal" of Dog Shit Going NoWhere (DOGSHIT2) and other tokens that have "impersonated the company" through the illegal use of intellectual property, including the company's logo and name. In addition, the letter also accused Pump.fun of issuing tokens in collaboration with a third party to "threaten the law firm's clients and interfere with the ongoing lawsuit".
FOR IMMEDIATE RELEASE
— Burwick Law (@BurwickLaw) February 5, 2025
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…
Specifically, according to information from Pump.fun, many users have created tokens using the name and logo of Burwick Law and Wolf Popper with various configurations. There are even tokens using the name and portrait of Burwick Law employees and one of the company's clients in the lawsuit against Pump.fun. This event emphasizes the need to be cautious in protecting brand copyrights and intellectual property in the cryptocurrency industry.
Previously, pump.fun was also involved in a class action lawsuit filed in the U.S. District Court of New York on January 30. The filing alleges that the company has raised nearly $500 million in fees from the issuance of unregistered tokens and used guerrilla marketing strategies to create artificial demand for "highly volatile" tokens, resulting in significant losses for retail investors.
The lawsuit states: "The core function of Pump.fun is to work with influencers to co-issue and promote unregistered securities. This activity is essentially a new iteration of Ponzi schemes and market manipulation."
Three directors of Baton Corporation are also named in the lawsuit, including Alon Cohen, Dylan Kerler and Noah Bernhard Hugo Tweedale - who are listed as officers of the company on the UK Companies House registry.
Lawsuit against Pump.fun (Source: Courtlistener)
Baton Corporation - the UK-based company that operates pump.fun - has not yet made any comments on this issue.
The use of Pump.fun has surged in the past week, with the platform recording an ATH of $3.3 billion in weekly trading volume after the launch of the Trump family's memecoin.
Compiled by VIC Crypto
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