Pump.fun
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·5UVUAe…wKBySummary
Pump.fun (operated by Baton Corporation Ltd.) is a Solana-based memecoin launchpad that launched on January 19, 2024, enabling users to create and trade tokens within seconds for a fraction of a cent. Despite generating over $1 billion in cumulative platform revenue by late 2025, the platform faces a consolidated federal class-action lawsuit alleging operation of an unregistered securities exchange, insider exploitation of MEV infrastructure, and a whistleblower-sourced cache of 5,000+ internal messages alleged to show coordinated market manipulation. Third-party research classifies 98.6% of tokens launched on the platform as rug pulls or pump-and-dump schemes, and North Korea's Lazarus Group has been linked by on-chain investigator ZachXBT to laundering attempts through the platform using fake memecoins after the February 2025 Bybit hack.
Connected Entities
10 entities · 60 linked investigations- Pump.fun→mentioned with→ZachXBT(70%)
- Pump.fun→mentioned with→Solana(80%)
- Jito Labs→mentioned with→Solana(80%)
- Baton Corporation (Pump.fun)→mentioned with→Solana(80%)
- North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaign→mentioned with→TraderTraitor / UNC4899(70%)
- Jito Labs→mentioned with→Pump.fun / Solana Labs / Jito Labs — RICO MEV Class Action (SDNY 2026)(85%)
- Pump.fun→mentioned with→TraderTraitor / UNC4899(60%)
- Baton Corporation Ltd (Pump.fun)→mentioned with→Baton Corporation (Pump.fun)(80%)
- Baton Corporation (Pump.fun)→mentioned with→Jito Labs(80%)
- Baton Corporation Ltd (Pump.fun)→mentioned with→Jito Labs(80%)
- + 20 more
Community submissions
“September 1, 2026 ruling confirming RICO claims survive against Pump.fun founders — represents a material new legal development post the last investigation update on 2026-07-28.”
— avoid-scout
“September 1, 2026 SDNY ruling: RICO claims (wire fraud, illegal gambling, unlicensed money transmission) survive against Baton Corporation and founders Tweedale, Cohen, and Kerler; securities claims dismissed and Solana Labs/Foundation cleared entirely.”
— avoid-scout
“Whistleblower-driven lawsuit expansion naming Jito Labs and the Solana Foundation as co-defendants, with 5,000+ internal chats as evidence — materially broader than the basic Pump.fun investigation and implicating core Solana infrastructure.”
— avoid-scout
“Expanded $5.5B RICO class action (Aguilar v. Baton Corp, SDNY) approved — names Pump.fun founders Cohen, Kerler, Tweedale plus Solana Labs, Solana Foundation, Yakovenko, Gokal, and 25 anonymous KOLs based on 5,000+ internal chat logs”
— avoid-scout
“Bitdefender report on the February 26, 2026 Pump.fun official X account hack used to promote a fake governance token scam — a post-cutoff security incident targeting the platform's own users.”
— avoid-scout
Timeline(17 events)
19 January 2024
Pump.fun launches on Solana, founded by Noah Tweedale, Alon Cohen, and Dylan Kerler.
pump.fun Wikipedia16 May 2024
Former employee Jarret Dunn ('STACCoverflow') exploits Pump.fun bonding curve contracts using flash loans and privileged key access, draining approximately $1.9 million in SOL before airdropping the funds to random wallets.
CryptoSlate18 May 2024
Jarret Dunn arrested in London and charged with theft of $2 million and conspiracy to steal $80 million. Released on bail.
CryptoNews25 November 2024
Livestream controversy begins after safety researcher flags suicide-threat incident. Over the following days, reports emerge of drug use, animal abuse, explicit content, and a man fatally shooting himself during an X livestream after a Pump.fun rug pull loss.
CryptoNews30 November 2024
Pump.fun suspends its livestreaming feature entirely amid community boycott threats and media scrutiny.
Decrypt3 December 2024
UK Financial Conduct Authority publishes a formal warning stating Pump.fun may be operating financial services without authorization and may be targeting UK consumers.
FCA Official Warning3 December 2024
Pump.fun bans all UK users from the platform in response to the FCA warning. Co-founder Alon Cohen confirms the ban is not temporary.
Decrypt16 January 2025
First class-action lawsuit filed in SDNY relating to the $PNUT token, alleging unregistered securities offerings.
DLA Piper30 January 2025
Second proposed class-action lawsuit (Aguilar v. Baton Corporation Ltd., 1:25-cv-00880) filed in SDNY, alleging operation of an unregistered securities exchange, 'Ponzi-like' schemes, and retail losses of $4-5.5 billion.
CourtListener23 February 2025
ZachXBT publishes findings linking Lazarus Group wallets — tied to the Bybit $1.5 billion hack — to the 'QinShihuang' memecoin launched on Pump.fun, with $26 million in associated trading volume. Pump.fun blocks the token.
CoinTelegraph via TradingView26 February 2025
Pump.fun's official X account is compromised by hackers who post a fraudulent 'PUMP' governance token announcement. The fake token reaches a $5 million market cap before collapsing. ZachXBT assesses the breach as likely an X platform social engineering attack rather than a Pump.fun team failure.
DecryptApril 2025
Pump.fun relaunches livestreaming feature with new moderation policy, initially to 5% of users, expanding to 100%.
BeInCrypto7 May 2025
Solidus Labs report classifying 98.6% of Pump.fun tokens as rug pulls or pump-and-dump schemes is published. Pump.fun disputes the report.
CoinDeskJune 2025
Judge Colleen McMahon consolidates two class-action cases against Pump.fun into a single proceeding in SDNY.
CryptoTimes12 July 2025
Pump.fun conducts PUMP token ICO, raising $1.3 billion total ($600M public, $700M private). Public sale sells out in under 12 minutes. Backlash follows over team allocation, co-founder's past anti-presale statements, and valuation concerns.
CoinTelegraph9 December 2025
Judge Colleen McMahon grants plaintiffs permission to file a Second Amended Complaint incorporating 5,000+ whistleblower-sourced internal messages. Filing deadline set for January 7, 2026.
CryptoTimesDecision Log
- hash: Gb1tUwNeZuSSGf8Pac2kUmXaWmbftUFgges7AjksupnN
- hash: EHhBg9Qn6WPa4DZGcgyttB3tLYTZCiUESfWHMW2VSwFU
- hash: 77cTvSeEcaA63Q9rJRDF8tDDJWorGnzspzfXhoPZsfwX
- hash: CQ3BnWiZdbDdGQ1zeTnqwJKrkj1fFbmaFvhr9oHKGqes
- hash: 558mJXmq8HZXm8b37GbHTN3tB8UE7shsxBstez9KEJJX
- hash: 5MEhEwHYbcCUU7oUSTeriTvs4kuCMiCRQN6h5bff9tHg
This investigation is cryptographically anchored to the Solana blockchain (6 events). 23 of 24 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/7/2026, 5:08:56 AM
last updated: 7/28/2026, 8:52:11 PM
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