PumpFun faced a lawsuit and a dip in prices due to the airdrop.
The co-founder of the platform, Alon Cohen, stated that the airdrop is postponed. Against the backdrop of the news, the PUMP token has plummeted, losing more than 42% over the week.
⚖️ Meanwhile, Burwick Law has filed a class action lawsuit against PumpFun, Solana, and Jito. They are accused of conducting illegal gambling operations, fraud, and trading unregistered securities.
💰 User losses are estimated at $4-5.5 billion. The plaintiffs claim that the platform operated like a "slot machine" with manipulative tokenomics, insider
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