Pump.fun / Solana Memecoin Launchpad Ecosystem Fraud

2017-10-19

EthereumCash token, allegedly created by Dylan Kerler (later Pump.fun co-founder), collapses 87.9% over two days following alleged creator sell-off on EtherDelta. Alleged rug pull extracted approximately $75,000 from investors.

2024-01-19

Pump.fun launches on Solana, operated by Baton Corporation Limited, founded by Noah Tweedale, Alon Cohen, and Dylan Kerler.

2024-11-25

Pump.fun's livestream feature suspended indefinitely following documented incidents of users threatening self-harm, animal abuse, and threats of violence tied to token price performance.

2024-12-03

UK Financial Conduct Authority publishes formal warning that Pump.fun may be providing unauthorized financial services in the United Kingdom.

2024-12-06

Pump.fun blocks all UK users from accessing the platform following the FCA warning.

2025-01-18

Official Trump (TRUMP) memecoin launches on Solana, reaching a peak market capitalization of $8.7 billion before collapsing over 90%.

2025-01-19

MELANIA token launches on Solana, peaking above $13 before falling over 96% to approximately $0.51.

2025-01-30

Federal class action lawsuit (Aguilar v. Baton Corporation Ltd., 1:25-cv-00880) filed in SDNY against Pump.fun and its three founders, alleging unregistered securities sales and a pump-and-dump scheme generating nearly $500 million in fees.

2025-02-01

Pump.fun's official X account is hacked and used to promote a fake token.

2025-04-24

WIRED publishes investigation linking Pump.fun co-founder Dylan Kerler to 2017 ICO rug pulls including EthereumCash and eBitcoinCash.

2025-05-07

Solidus Labs publishes report finding 98.6% of Pump.fun tokens and 93% of Raydium liquidity pools exhibit fraudulent characteristics. Pump.fun contests the findings.

2025-06-26

Judge McMahon merges the two separately filed Pump.fun class action cases into one consolidated action.

2025-07-22

Consolidated Amended Class Action Complaint filed against Pump.fun, Solana Labs, Solana Foundation, Jito Labs, and Jito Foundation, alleging RICO violations and losses of $4–$5.5 billion to retail traders.

2025-10-01

Jito Labs obtains dismissal of class action claims against it, represented by Skadden Arps.

2025-12-09

Judge Colleen McMahon grants plaintiffs leave to amend their complaint, incorporating approximately 5,000 internal chat messages provided by a whistleblower, and denies motions to dismiss. The case against Pump.fun, Solana Labs, and Solana Foundation proceeds.

2026-04-29

Pump.fun announces revised tokenomics, burning 36% of PUMP supply and committing 50% of ongoing revenue to token buybacks, citing failure of prior all-revenue-burn policy to support price.

2026-06-04

Pump.fun launches GO bounty platform with 'Pay ANYONE to do ANYTHING' slogan. Within hours, listings including a reported $690,000 suicide-linked bounty draw widespread condemnation. Pump.fun issues no public statement.