Pump.fun / Solana Labs RICO Class Action
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anchored·4J2Jfr…qC8dSummary
Aguilar v. Baton Corporation Ltd. (Case No. 1:25-cv-00880, S.D.N.Y.) is an active federal class action alleging that Pump.fun, Solana Labs, the Solana Foundation, and named executives operated a coordinated racketeering enterprise — referred to as the 'Solana-Pump.Fun Racketeering Enterprise' — that rigged its memecoin launchpad to benefit insiders while marketing it as a fair platform to retail investors. Plaintiffs allege aggregate retail losses between $4 billion and $5.5 billion, while the platform collected an alleged $722 million in fees. As of early 2026, defendants have filed motions to dismiss the Second Amended Complaint; no ruling on those motions has been publicly reported as of June 2026.
Connected Entities
1 entities- + 7 more
Community submissions
- Under reviewincriminatingWayback pending8/1/2026, 10:09:20 PM
“The RICO class action against Pump.fun, Solana Labs, and Jito intensified in mid-2026 when a whistleblower supplied 5,000+ internal chat logs documenting coordination between Solana Labs engineers and Pump.fun employees on MEV transaction prioritization. A federal judge approved expansion of the lawsuit. The amended complaint alleges $4-5.5B in retail losses and up to $16.5B in potential RICO treble damages, making this one of the largest securities-adjacent class actions in crypto history.”
— avoid-scout
Timeline(17 events)
19 January 2024
Pump.fun platform launched by Noah Tweedale, Alon Cohen, and Dylan Kerler through Baton Corporation Ltd.
PANews / Wikipedia16 January 2025
Plaintiff Kendall Carnahan files class action in SDNY related to PNUT token sales on Pump.fun, represented by Wolf Popper LLP and Burwick Law.
Wolf Popper LLP30 January 2025
Plaintiff Diego Aguilar files class action in SDNY against Baton Corporation Ltd. (Pump.fun) and co-founders for alleged unregistered securities sales, Case No. 1:25-cv-00880.
CoinDesk8 April 2025
Baton Corporation retains Brown Rudnick LLP (attorneys Sachs, Dorso, and Palley) as defense counsel, one day before their response deadline.
ProtosMay 2025
Solidus Labs publishes its 2025 Rug Pull Report, finding 98.6% of tokens on Pump.fun collapsed to under $1,000 in liquidity across a sample of 7 million+ tokens (January 2024 – March 2025).
Solidus Labs / CoinDesk22 July 2025
Plaintiffs file Consolidated Amended Complaint adding Solana Labs, Solana Foundation, Jito Labs, and individual executives as defendants with RICO allegations, expanding claimed damages to $5.5 billion.
Wolf Popper LLP / Protos7 August 2025
Solana Labs, Jito Labs, and three Solana Foundation executives formally served with the amended complaint.
Protos5 September 2025
Skadden files motion to dismiss on behalf of Jito Labs, arguing plaintiffs failed to plead any relationship between Jito Labs and Pump.fun.
Skadden26 September 2025
Plaintiffs voluntarily dismiss all claims against Jito Labs, Jito Foundation, CEO Lucas Bruder, and COO Brian Smith without settlement consideration.
Skadden9 December 2025
Judge Colleen McMahon issues order granting plaintiffs leave to file a Second Amended Complaint, citing new whistleblower evidence of ~5,000 internal chat messages.
Crypto Times / FinanceFeeds15 December 2025
Burwick Law files Notice of Defendant Misconduct alleging Pump.fun orchestrated a memetic harassment campaign against plaintiffs' counsel using the platform's token system.
Protos17 December 2025
Unverified social media rumors allege Pump.fun co-founder Alon Cohen was detained in Brazil; no official source confirmed the claims as of that date.
LiveBitcoinNews (low credibility claim)7 January 2026
Plaintiffs file Second Amended Complaint incorporating whistleblower chat logs; complaint names 25 additional anonymous KOL defendants alongside original institutional defendants.
Burwick Law / Cryptopolitan13 January 2026
Court conference scheduled at which a Baton Corporation representative was to appear before Judge McMahon regarding alleged misconduct letter motion.
Cryptopolitan23 January 2026
Deadline for defendants to file motions to dismiss Second Amended Complaint.
Crypto Times20 February 2026
Briefing on motions to dismiss closes (defendants' reply deadline). No ruling publicly reported as of June 2026.
Crypto TimesDecision Log
- hash: 9B9oXnC95XYPtvRs3EZSRWeLST6P4Bb1wGyzg1XCNmKP
- hash: 4UxMVBSkWYQr7tKq5DLtvxY2KtkgACzCSYUUQbcYgyi2
- hash: 2MuW5yPuRdU5vmWqw6Kv8MeGtWQtjY6vRi2KdZsCsyTa
This investigation is cryptographically anchored to the Solana blockchain (3 events). 20 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/2/2026, 9:25:00 PM
last updated: 7/27/2026, 1:22:47 PM
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