A US law firm plans to take legal action against Pump.fun, a Solana-based meme coin launchpad, over allegations of investor harm. Burwick Law is urging individuals who may have suffered losses due to the platform's questionable promotional activities to come forward to support potential legal efforts for restitution. The firm alleges that Pump.fun has collected substantial fees while allowing problematic behaviors on the platform, including illicit drug use and extreme stunts during livestreams. Since its inception in January 2024, Pump.fun has launched over 6 million tokens but has been criticized for a lack of accountability from its anonymous creators. Only 0.4% of wallets on the platform reportedly achieved profits over $10,000, suggesting inequity among users. The UK Financial Conduct Authority has warned residents about the potential risks associated with the platform. Pump.fun has not yet responded to these claims.

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