tl;dr
Law firms Burwick Law and Wolf Popper LLP have accused Pump.fun of using their intellectual property to create the meme coin DOGSHIT2, and of attempting to intimidate their clients. The firms are pursuing a class-action lawsuit against Pump.fun, alleging securities fraud and criticizing the platform...
DOGSHIT2 meme coin controversy: Allegations of intellectual property misuse and intimidation by Pump.fun in the midst of a class-action lawsuit
DOGSHIT2 token performance: Despite denials of involvement, the controversial token sees significant market interest amidst legal disputes
Pump.fun's role in the legal battle: Accusations of allowing token impersonation and intimidation tactics, raising concerns about blockchain legitimacy and due process
Law firms Burwick Law and Wolf Popper LLP have accused Pump.fun of using their intellectual property to create the meme coin DOGSHIT2, and of attempting to intimidate their clients. The firms are pursuing a class-action lawsuit against Pump.fun, alleging securities fraud and criticizing the platform for enabling the creation and trading of unregistered tokens. The controversy intensified when it was revealed that a wallet address referenced in the lawsuit was linked to DOGSHIT2, leading to speculation about the involvement of the law firms. Despite their denials, DOGSHIT2's market capitalization peaked at over $23 million.
The main legal dispute centers on whether Pump.fun knowingly allowed the creation of tokens impersonating the law firms and plaintiffs involved in the lawsuit. The firms accuse Pump.fun of interfering with ongoing litigation and intimidating investors. Pump.fun has not publicly commented on the allegations. Regulatory scrutiny over meme coin platforms has increased, with Pump.fun facing additional controversies.
Two law firms, Burwick Law and Wolf Popper LLP, have accused Pump.fun of using their intellectual property to create a controversial meme coin, Dog Shit Going Nowhere (DOGSHIT2). The firms also accused Pump.fun of trying to intimidate their clients. The allegations come as both firms pursue a class-action lawsuit against Pump.fun, claiming the platform has facilitated widespread securities fraud. They also called out the launchpad for allowing users to create and trade unregistered tokens easily.
DOGSHIT2 SOARS AMID PUMP.FUN’S LEGAL WOES
On Thursday, the cease-and-desist letter, dated February 5, 2025, was shared on X (Twitter). Burwick Law and Wolf Popper LLP demanded that Pump.fun immediately remove DOGSHIT2 and other tokens allegedly impersonating the firms and their employees. The controversy surrounding DOGSHIT2 began when Burwick Law submitted court documents in its initial lawsuit against Pump.fun. It included an exhibit demonstrating how easily users could create tokens on the platform. The firm also accused Pump.fun of enabling rug pulls and failed meme coins. However, crypto analysts quickly noticed that a wallet address referenced in the lawsuit was linked to DOGSHIT2. This revelation led to speculation that Burwick Law or its affiliates had inadvertently created the token.
The law firm has vehemently denied any involvement in launching or profiting from DOGSHIT2. Specifically, they said the token only existed as “memory on the server” until it was purchased and deployed on-chain by an unknown party. Despite Burwick’s denials, DOGSHIT2 has continued to attract investor interest. At its peak on January 31, the token’s market capitalization exceeded $23 million. While it has dropped to around $8.2 million, according to CoinGecko data, the price has increased by over 200% since Thursday’s session opened.
PUMP.FUN PLATFORM’S ROLE IN THE DISPUTE
Meanwhile, the main issue in the legal battle is whether Pump.fun knowingly allowed the creation of tokens designed to impersonate law firms and plaintiffs involved in the lawsuit. The law firms assert that Pump.fun has the technical ability to remove the disputed tokens but has refused to do so. They further claim that Pump.fun’s actions represent an effort to interfere with ongoing litigation, intimidating investors pursuing claims against it. The firms warn that such tactics could undermine the legitimacy of blockchain technology by using it to obstruct due process and manipulate public perception. Pump.fun has not publicly commented on the allegations of intimidation. However, the launchpad advertises as merely providing an open platform for token generation.
Meanwhile, regulatory scrutiny over meme coin platforms has increased, particularly as high-risk, pump-and-dump schemes proliferate. However, for Pump.fun, this adds to a list of controversies after analysts slammed it for delaying the altcoin season. Most Solana founders also have negative sentiments about the platform. Nevertheless, it is impossible to forget the Solana meme coin launchpad’s remarkable start to the year. As BeInCrypto reported, the platform recorded a notable $14 million in daily revenue on January 2 and accounted for 52.