Two U.S. law firms, Burwick Law and Wolf Popper, have sent a cease and desist letter to Pump.fun, demanding the removal of over 200 memecoins that allegedly use their names, logos, and even the names of their employees. The firms claim that Pump.fun users created these tokens to impersonate their brands and interfere with an ongoing lawsuit against the platform.
Burwick law firm and Wolf Popper have issued a cease and desist letter to Pump.fun. Source: XLaw Firms Accuse Pump.fun of Allowing Impersonation Tokens
On Feb. 5, Burwick Law released a statement on X, announcing that it had issued a cease and desist letter to Pump.fun alongside Wolf Popper. The letter demands that Pump.fun immediately remove a token called Dog Shit Going NoWhere (DOGSHIT2) and others that allegedly imitate the firms without permission.
According to Burwick Law’s Managing Partner, Max Burwick, since filing their class-action lawsuit last week, Pump.fun users have created more than 200 tokens that infringe on their intellectual property. These tokens reportedly use the names and logos of Burwick Law and Wolf Popper in different configurations.
Pump.fun Allegedly Allows Tokens Using Plaintiffs’ Names
The law firms claim that some Pump.fun users have created tokens using the names and likenesses of Burwick Law employees and even one of the plaintiffs involved in the lawsuit against the platform. According to Burwick Law, Pump.fun has the technical ability to remove these tokens but has chosen not to act despite the legal and financial risks these tokens may pose to the public.
Part of the cease and desist letter also claims that third parties have launched these tokens to intimidate plaintiffs and interfere with the ongoing lawsuit. Burwick Law argues that these actions weaponize blockchain technology to disrupt justice and due process.
Burwick Law Denies Involvement in DOGSHIT2 Token
Some users have speculated that Burwick Law created the DOGSHIT2 token itself as part of its legal battle against the platform. However, Max Burwick denied these claims. He explained that DOGSHIT2 originally existed only as server memory and did not become an actual onchain token until Pump.fun automatically deployed it when a buyer purchased it for the first time.
Burwick Law and Wolf Popper recently filed a class-action lawsuit against Pump.fun on behalf of investors. On Jan. 30, investor Diego Aguilar sued the platform in a New York federal court, claiming that every token it launched was an unregistered security. The lawsuit accused Pump.fun of using guerilla marketing to create artificial hype around highly volatile tokens, leading to significant financial losses for investors.
The lawsuit seeks to cancel all token purchases, compensate investors for monetary losses, and make the platform pay for litigation costs.
Pump.fun Trading Volume Surges Despite Legal Issues
Despite facing multiple lawsuits, Pump.fun recently experienced a massive increase in trading activity. Last week, the platform recorded $1.5 billion in weekly trading volume. The launch of Trump family-themed memecoins played a major role in this surge. However, it has dropped to 550 million this week.
Pump.fun trading volume dropped from $1.5 billion to 550 million in a week. Source: DefillamaThe post Law Firms Slam Pump.fun for Hosting Fake Tokens Amid Lawsuit Battle first appeared on Coinchapter.
The post Law Firms Slam Pump.fun for Hosting Fake Tokens Amid Lawsuit Battle appeared first on Coinchapter.
