Audit log

Every state-changing event for Rug Republic — Coordinated Pump.fun / Solana Bundle-Rug Cluster: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-07 00:53:33Z
   Score: ? → ? (no score change)
   anchorpending

   chain

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   hash

   5MboAj9RsQdj…A3gcCB88copysha256 → base58

   verifying row…

   canonical bytes (28024 B) ▸

   {"actor":"system:backfill","investigation_id":"9da57c16-5080-4c4a-967b-1bb96e7ee468","kind":"publish","page_slug":"rug-republic-coordinated-pump-fun-solana-bundle-rug-cluster","published_at":"2026-08-07T00:53:33.902Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Rug Republic — Coordinated Pump.fun / Solana Bundle-Rug Cluster","sections":[{"content":"The 'Rug Republic' label originates from community research and investigative journalism describing a set of coordinated wallet clusters that allegedly exploited Pump.fun's permissionless token creation infrastructure on the Solana blockchain. The term appears in Medium research articles and community analysis published in 2024 and 2025. It is not a self-identified organization or registered entity. The cluster is defined by shared operational behaviors rather than any formal structure: shared signer keys, millisecond-spaced token launches, and mirrored post-drain fund transfers. The label is used by researchers to distinguish these high-volume, systematically fraudulent actors from the broader population of opportunistic individual rug-pull operators present on the platform.","heading":"Overview and Naming","severity":"high","sources":[{"credibility":3,"name":"MUST READ! Rug Republic: Inside Solana's Meme Coin Machine on Pump.fun (Medium / IDE)","type":"community_report","url":"https://ideakuuu.medium.com/must-read-rug-republic-inside-solanas-meme-coin-machine-on-pump-fun-582f59507007"},{"credibility":3,"name":"Serial Rug Deployers on Pump.fun: A Deep Dive into Solana's Meme-Coin Laundromat (Medium / BestofAbdul)","type":"community_report","url":"https://medium.com/@abubakarabdulfattah120/serial-rug-deployers-on-pump-fun-a-deep-dive-into-solanas-meme-coin-laundromat-a57ddda190cc"}]},{"content":"According to community analysis and a Pine Analytics research report, coordinated Pump.fun rug operators employed a multi-phase technique commonly referred to as 'bundle launching.' The process involved funding multiple burner wallets through multi-hop transfer chains of five to seven intermediary wallets to obscure origin. The deployer then created a new token on Pump.fun and simultaneously submitted multiple buy transactions across controlled wallets as a single Jito bundle, ensuring all purchases executed in the same Solana block as the token mint. This same-block sniping created an artificial price spike visible on token charts before any retail participant could react. According to the Pine Analytics report 'Exit Liquidity Machines,' 55 percent of such coordinated positions were fully exited within one minute of launch, and 85 percent within five minutes. The report documented 15,000 SOL in realized profits extracted across 15,000-plus token launches over a one-month observation period, with over 4,600 sniper wallets involved and an 87 percent rate of profitable outcomes for same-block snipes. The alleged Rug Republic cluster specifically is described as averaging 320 token launches per wallet cluster, with post-drain funds routed to a central consolidation wallet before being bridged or transferred to a centralized exchange.","heading":"Alleged Operational Mechanics","severity":"critical","sources":[{"credibility":2,"name":"Exit Liquidity Machines — Pine Analytics (Substack)","type":"research","url":"https://pineanalytics.substack.com/p/exit-liquidity-machines"},{"credibility":3,"name":"How to Bundle on Pump.fun: Jito Limits, Wallets & Costs — SolBundler","type":"other","url":"https://solbundler.app/blog/how-to-bundle-pump-fun"},{"credibility":2,"name":"Anatomy of a rug pull: identify Scams on Pump.fun — Flintr","type":"research","url":"https://www.flintr.io/articles/anatomy-of-a-rug-pull-identify-scams-on-pumpfun"}]},{"content":"According to community research citing Arkham Intelligence's Ultra AI blockchain clustering methodology applied to 4.8 million CreateToken events from January through April 2025, twelve wallet clusters exhibited patterns consistent with coordinated serial token deployment. These patterns included shared signer keys across launches, millisecond-spaced sequential token mints, and mirrored post-drain transfer routes to common consolidation wallets. The alleged cluster is reported to have been responsible for approximately 18 percent of all Pump.fun token creations during the analysis period and 82 percent of identifiable liquidity drains, with estimated aggregate profits of $4.2 million. A separate finding cited in the same research identified a single Solana wallet address that had deployed 29,834 tokens on Pump.fun, generating approximately $3.8 million in trading profits. The 'Deployer_X7' sub-cluster is described as having conducted 1,278 token launches before ceasing operations with approximately $1.1 million in extracted liquidity. These figures are sourced primarily from community-authored Medium articles and have not been independently verified by a Tier 1 news organization or regulatory body. Arkham Intelligence has not published a formal report specifically naming or quantifying the Rug Republic cluster under its own byline.","heading":"Scale and On-Chain Evidence","severity":"critical","sources":[{"credibility":3,"name":"Pump.fun Deployers Exposed: Arkham Analytics Reveals $3.8M Profit Pattern (Medium)","type":"community_report","url":"https://medium.com/@porwalabhay830301/pump-fun-deployers-exposed-arkham-analytics-reveals-3-8m-profit-pattern-7540d37cc181"},{"credibility":3,"name":"MUST READ! Rug Republic: Inside Solana's Meme Coin Machine on Pump.fun (Medium / IDE)","type":"community_report","url":"https://ideakuuu.medium.com/must-read-rug-republic-inside-solanas-meme-coin-machine-on-pump-fun-582f59507007"},{"credibility":2,"name":"Arkham Intelligence Explorer — Pump Fun Puppet","type":"on_chain","url":"https://intel.arkm.com/explorer/token/pump-fun-puppet"}]},{"content":"The Rug Republic cluster operated within a broader documented fraud environment on Pump.fun. Solidus Labs' May 2025 report on Solana rug pulls found that approximately 98.6 percent of the more than seven million tokens deployed on Pump.fun since January 2024 — defined as those with at least five trades — collapsed into rug pulls or pump-and-dump schemes. Only approximately 97,000 of those tokens maintained liquidity above $1,000. On Raydium DEX, the same report identified 93 percent of liquidity pools (361,000 out of 388,000 analyzed) as exhibiting soft rug pull characteristics, with a median rug pull value of $2,832 and the largest single event totaling $1.9 million, attributed to MToken. A Merkle Science report published in February 2025 estimated total losses to rug pulls and scams on Solana in 2024 at $500 million. Pump.fun disputed the Solidus Labs findings; spokesperson Troy Gravitt stated that the report lacked 'a basic understanding of memecoins' and compared low-value meme coins to cultural products such as art or trading cards. Pump.fun's own revenue exceeded $1 billion by early 2025, making it Solana's first application to reach that milestone.","heading":"Broader Pump.fun Fraud Ecosystem","severity":"high","sources":[{"credibility":2,"name":"Solana Rug Pulls & Pump-and-Dumps: What Crypto Institutions Must Know — Solidus Labs (May 2025)","type":"research","url":"https://www.soliduslabs.com/reports/solana-rug-pulls-pump-dumps-crypto-compliance"},{"credibility":2,"name":"Pump.fun Hits Back at Report That Claimed 98% of Memecoins Are Fraudulent — CoinDesk (May 8, 2025)","type":"news_article","url":"https://www.coindesk.com/business/2025/05/07/98-of-tokens-on-pump-fun-have-been-rug-pulls-or-an-act-of-fraud-new-report-says"},{"credibility":2,"name":"'Alarming' 99% of Memecoin Launches on PumpFun are Pump-and-Dumps or Rug Pulls — The Defiant","type":"news_article","url":"https://thedefiant.io/news/defi/alarming-99-of-memecoin-launches-on-pumpfun-are-pump-and-dumps-or-rug-pulls-report"},{"credibility":2,"name":"98% of Tokens on Pump.fun Are Rug Pulls or Fraud: Report — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/98-of-tokens-on-pump-fun-are-rug-pulls-or-fraud-report/"}]},{"content":"The broader platform infrastructure through which the alleged Rug Republic cluster operated is at the center of active federal litigation. On January 29, 2025, a class-action lawsuit styled Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun was filed in the U.S. District Court for the Southern District of New York (Case No. 1:25-cv-00880). The case was brought by Burwick Law and Wolf Popper LLP. An amended consolidated complaint adding RICO allegations was filed July 22, 2025. A second amended consolidated complaint was filed January 7, 2026, following a December 16, 2025 order by Judge Colleen McMahon permitting plaintiffs to further amend. Named defendants include Baton Corporation Ltd. (Pump.fun) and co-founders Alon Cohen, Dylan Kerler, and Noah Tweedale; Solana Labs Inc.; the Solana Foundation; and individual Solana executives Anatoly Yakovenko, Raj Gokal, Dan Albert, Austin Federa, and Lily Liu, as well as 25 anonymous Key Opinion Leader defendants. Alleged damages are estimated at between $4 billion and $5.5 billion. The complaint characterizes Pump.fun's bonding-curve pricing model as an 'unlicensed, zero-sum gambling' mechanism and alleges RICO violations, unlicensed money transmission, wire fraud, false advertising, and offering of unregistered securities. Infrastructure partners Jito Labs and Jito Foundation were named in earlier versions of the complaint but were dropped without prejudice. All allegations remain unproven; defendants had until January 23, 2026 to file motions to dismiss. A separate whistleblower submission introduced over 5,000 alleged internal chat logs as evidence of insider coordination between Pump.fun staff and Solana engineers regarding transaction ordering and MEV.","heading":"Litigation: Aguilar v. Baton Corporation (Pump.fun RICO Class Action)","severity":"high","sources":[{"credibility":1,"name":"Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun, 1:25-cv-00880 — CourtListener","type":"court_filing","url":"https://www.courtlistener.com/docket/69593359/aguilar-v-baton-corporation-ltd-dba-pumpfun/"},{"credibility":1,"name":"Pump.fun and Solana RICO Lawsuit: Aguilar v. Baton Corporation — Burwick Law","type":"court_filing","url":"https://www.burwick.law/active-cases/pump-fun-and-solana-rico-lawsuit-aguilar-v-baton-corporation"},{"credibility":2,"name":"Solana, Pump.fun Named in Amended RICO Suit Alleging $5.5B Meme Coin Gambling Scheme — Decrypt","type":"news_article","url":"https://decrypt.co/331528/solana-pump-fun-amended-rico-suit-alleging-meme-coin-gambling"},{"credibility":1,"name":"Pump.fun Class Action Lawsuit Expands with Consolidated Amended Complaint — Mondaq / Wolf Popper","type":"court_filing","url":"https://www.mondaq.com/pressrelease/171670/pumpfun-class-action-lawsuit-expands-with-consolidated-amended-complaint-adding-rico-allegations-and-new-defendants"},{"credibility":2,"name":"MEV Lawsuit Against Pump.fun, Solana Heats Up — Unchained Crypto (Dec 19, 2025)","type":"news_article","url":"https://unchainedcrypto.com/mev-lawsuit-against-pump-fun-solana-heats-up/"},{"credibility":2,"name":"Pump.Fun Lawsuit Faces XMAS Twist: 5000 Messages Uncovered — 99Bitcoins","type":"news_article","url":"https://99bitcoins.com/news/altcoins/pump-fun-lawsuit-alleges-5000-message-plot-to-rig-solana-meme-coins/"},{"credibility":2,"name":"Whistleblower Drops 5,000+ Secret Chats in Pump.fun MEV Scandal — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/whistleblower-drops-5-000-secret-210125260.html"}]},{"content":"No regulatory enforcement action has been brought specifically against the Rug Republic cluster or its identified wallet operators as of the research date. However, the broader enforcement environment for Solana-based rug pulls has shifted materially. On April 7, 2025, U.S. Department of Justice Deputy Attorney General Todd Blanche publicly identified rug pulls as a prosecution priority, stating the DOJ would 'prioritize investigations and prosecutions that involve conduct victimizing investors, including digital asset investment scams, fake digital asset development projects such as rug pulls.' On February 27, 2025, the SEC Division of Corporate Finance issued guidance stating memecoins do not constitute securities offerings under its current interpretation, which narrows one potential enforcement avenue but does not immunize operators from fraud or money-transmission charges. In March 2025, the SEC established a Cyber and Emerging Technologies Unit. Internationally, South Korean prosecutors brought the first DEX rug-pull prosecution under the country's Virtual Asset User Protection Act in mid-2025, charging five individuals over the CATFI meme coin on Pump.fun, which caused approximately 900 million KRW ($600,000) in losses to 256 investors. That case resulted in two arrests. No comparable U.S. criminal charges specifically targeting Pump.fun rug operators have been publicly disclosed as of August 2026.","heading":"Regulatory Context and Enforcement Environment","severity":"medium","sources":[{"credibility":2,"name":"Solidus Labs Solana Rug Pull Report — Regulatory Context Section (May 2025)","type":"research","url":"https://www.soliduslabs.com/reports/solana-rug-pulls-pump-dumps-crypto-compliance"},{"credibility":2,"name":"South Korea Makes First Arrest and Prosecution in Meme Coin Rug Pull Case — BeInCrypto","type":"news_article","url":"https://beincrypto.com/solana-meme-coin-south-korea-dex-indictment/"},{"credibility":2,"name":"South Korea arrests suspects behind Solana memecoin CatFi — The Block","type":"news_article","url":"https://www.theblock.co/post/402697/south-korea-first-rugpull-memecoin"},{"credibility":2,"name":"Solana Meme Coin Surges 6,000% After Creators Arrested Over Rug Pull — Decrypt","type":"news_article","url":"https://decrypt.co/369134/solana-meme-coin-surges-6000-after-creators-arrested-over-rug-pull"}]},{"content":"The Pine Analytics 'Exit Liquidity Machines' report and related community research document several obfuscation techniques attributed to coordinated Pump.fun rug operators that are consistent with the described Rug Republic cluster's behavior. These include: multi-hop funding chains using five to seven intermediary wallets between a funding source (typically a CEX withdrawal) and the deployer wallet; use of one-shot burner wallets that conduct a single transaction and are then abandoned; multi-signer sniping transactions designed to simulate the appearance of distributed independent demand rather than coordinated purchases; and activity timing concentrated between 14:00 and 23:00 UTC, suggesting US-timezone-aligned human or automated operation rather than continuous global bot activity. The Pine Analytics report notes that its own on-chain detection methodology — based on direct one-hop SOL transfers between deployers and snipers — captures only the most obvious coordination patterns, meaning more sophisticated actors using multi-hop chains remain underdetected. The use of Jito bundle infrastructure means coordinated buys leave no mempool trace for third-party observers to detect pre-execution.","heading":"Detection Evasion and Obfuscation Tactics","severity":"high","sources":[{"credibility":2,"name":"Exit Liquidity Machines — Pine Analytics (Substack)","type":"research","url":"https://pineanalytics.substack.com/p/exit-liquidity-machines"},{"credibility":3,"name":"What Is a Jito Bundle on Solana? Atomic Execution and MEV Protection Explained — Alphecca","type":"other","url":"https://alphecca.io/alphecca.io/en/blog/what-is-jito-bundle"}]},{"content":"The specific $4.2 million profit figure, the characterization of exactly twelve wallet clusters, the 82 percent liquidity drain share, and the 'Deployer_X7' sub-cluster label originate primarily from community-authored Medium articles that cite Arkham Intelligence methodology without direct links to a published Arkham report. Arkham Intelligence has not published a formal named report on the Rug Republic cluster under its own byline as of the research date. These figures should be treated as alleged and low-to-medium confidence. The broader macro statistics — 98.6 percent rug pull rate on Pump.fun, $500 million in 2024 Solana rug pull losses, the Pine Analytics operational data — are sourced from Solidus Labs (Tier 2), Pine Analytics (Tier 2), and Merkle Science (Tier 2) and carry higher confidence. The existence and docket details of the Aguilar v. Baton Corporation litigation are verifiable through CourtListener and are Tier 1.","heading":"Source Confidence Limitations","severity":"low","sources":[{"credibility":1,"name":"Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun, 1:25-cv-00880 — CourtListener","type":"court_filing","url":"https://www.courtlistener.com/docket/69593359/aguilar-v-baton-corporation-ltd-dba-pumpfun/"}]}],"sources_used":[{"credibility":1,"name":"Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun, 1:25-cv-00880 — CourtListener","type":"court_filing","url":"https://www.courtlistener.com/docket/69593359/aguilar-v-baton-corporation-ltd-dba-pumpfun/"},{"credibility":1,"name":"Pump.fun and Solana RICO Lawsuit: Aguilar v. Baton Corporation — Burwick Law","type":"court_filing","url":"https://www.burwick.law/active-cases/pump-fun-and-solana-rico-lawsuit-aguilar-v-baton-corporation"},{"credibility":1,"name":"Pump.fun Class Action Lawsuit Expands with RICO Allegations — Mondaq / Wolf Popper","type":"court_filing","url":"https://www.mondaq.com/pressrelease/171670/pumpfun-class-action-lawsuit-expands-with-consolidated-amended-complaint-adding-rico-allegations-and-new-defendants"},{"credibility":2,"name":"Solana Rug Pulls & Pump-and-Dumps: What Crypto Institutions Must Know — Solidus Labs (May 2025)","type":"research","url":"https://www.soliduslabs.com/reports/solana-rug-pulls-pump-dumps-crypto-compliance"},{"credibility":2,"name":"Exit Liquidity Machines — Pine Analytics (Substack)","type":"research","url":"https://pineanalytics.substack.com/p/exit-liquidity-machines"},{"credibility":2,"name":"Pump.fun Hits Back at Report That Claimed 98% of Memecoins Are Fraudulent — CoinDesk (May 8, 2025)","type":"news_article","url":"https://www.coindesk.com/business/2025/05/07/98-of-tokens-on-pump-fun-have-been-rug-pulls-or-an-act-of-fraud-new-report-says"},{"credibility":2,"name":"Solana, Pump.fun Named in Amended RICO Suit Alleging $5.5B Meme Coin Gambling Scheme — Decrypt","type":"news_article","url":"https://decrypt.co/331528/solana-pump-fun-amended-rico-suit-alleging-meme-coin-gambling"},{"credibility":2,"name":"MEV Lawsuit Against Pump.fun, Solana Heats Up — Unchained Crypto (Dec 19, 2025)","type":"news_article","url":"https://unchainedcrypto.com/mev-lawsuit-against-pump-fun-solana-heats-up/"},{"credibility":2,"name":"Whistleblower Drops 5,000+ Secret Chats in Pump.fun MEV Scandal — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/whistleblower-drops-5-000-secret-210125260.html"},{"credibility":2,"name":"Pump.Fun Lawsuit Faces XMAS Twist: 5000 Messages Uncovered — 99Bitcoins","type":"news_article","url":"https://99bitcoins.com/news/altcoins/pump-fun-lawsuit-alleges-5000-message-plot-to-rig-solana-meme-coins/"},{"credibility":2,"name":"'Alarming' 99% of Memecoin Launches on PumpFun are Pump-and-Dumps or Rug Pulls — The Defiant","type":"news_article","url":"https://thedefiant.io/news/defi/alarming-99-of-memecoin-launches-on-pumpfun-are-pump-and-dumps-or-rug-pulls-report"},{"credibility":2,"name":"98% of Tokens on Pump.fun Are Rug Pulls or Fraud — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/98-of-tokens-on-pump-fun-are-rug-pulls-or-fraud-report/"},{"credibility":2,"name":"South Korea arrests suspects behind Solana memecoin CatFi in first rugpull case under new law — The Block","type":"news_article","url":"https://www.theblock.co/post/402697/south-korea-first-rugpull-memecoin"},{"credibility":2,"name":"Solana Meme Coin Surges 6,000% After Creators Arrested Over Rug Pull — Decrypt","type":"news_article","url":"https://decrypt.co/369134/solana-meme-coin-surges-6000-after-creators-arrested-over-rug-pull"},{"credibility":2,"name":"Pump.fun launches DEX called PumpSwap to instantly migrate graduated tokens — The Block","type":"news_article","url":"https://www.theblock.co/post/347360/pump-fun-launches-dex-called-pumpswap-to-instantly-migrate-graduated-tokens"},{"credibility":2,"name":"Pump.fun Is Solana First $1B Revenue App — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/pump-fun-solana-first-1b-130219262.html"},{"credibility":3,"name":"MUST READ! Rug Republic: Inside Solana's Meme Coin Machine on Pump.fun — Medium (IDE)","type":"community_report","url":"https://ideakuuu.medium.com/must-read-rug-republic-inside-solanas-meme-coin-machine-on-pump-fun-582f59507007"},{"credibility":3,"name":"Serial Rug Deployers on Pump.fun: A Deep Dive into Solana's Meme-Coin Laundromat — Medium (BestofAbdul)","type":"community_report","url":"https://medium.com/@abubakarabdulfattah120/serial-rug-deployers-on-pump-fun-a-deep-dive-into-solanas-meme-coin-laundromat-a57ddda190cc"},{"credibility":3,"name":"Pump.fun Deployers Exposed: Arkham Analytics Reveals $3.8M Profit Pattern — Medium","type":"community_report","url":"https://medium.com/@porwalabhay830301/pump-fun-deployers-exposed-arkham-analytics-reveals-3-8m-profit-pattern-7540d37cc181"},{"credibility":2,"name":"Anatomy of a rug pull: identify Scams on Pump.fun — Flintr","type":"research","url":"https://www.flintr.io/articles/anatomy-of-a-rug-pull-identify-scams-on-pumpfun"},{"credibility":2,"name":"Arkham Intelligence Explorer — Pump Fun Puppet","type":"on_chain","url":"https://intel.arkm.com/explorer/token/pump-fun-puppet"}],"summary":"The 'Rug Republic' is a term used by on-chain researchers to describe a cluster of approximately twelve coordinated wallet groups alleged to have systematically deployed, manipulated, and drained tokens on the Solana-based meme coin launchpad Pump.fun between January and April 2025. According to analysis attributed to Arkham Intelligence's Ultra AI clustering, this cluster allegedly accounted for approximately 18 percent of all token creations on the platform while orchestrating roughly 82 percent of liquidity drains, with estimated exit-scam profits of $4.2 million. The broader Pump.fun ecosystem, within which this cluster operated, is the subject of an active federal class-action RICO lawsuit filed in the U.S. District Court for the Southern District of New York.","timeline":[{"date":"2024-01-19","event":"Pump.fun launches on Solana, introducing a permissionless bonding-curve meme coin launchpad. Rapid adoption follows, with millions of tokens subsequently deployed.","source":"Decrypt — Project of the Year 2024: Pump.fun","source_url":"https://decrypt.co/297792/project-of-the-year-2024-pump-fun"},{"date":"2024-01-01","event":"Community researchers begin documenting coordinated multi-wallet rug pull operations on Pump.fun. One wallet cluster is observed deploying over 170 tokens across a four-week window in March–April 2024, with each token's liquidity drained within 10–20 minutes of launch.","source":"MUST READ! Rug Republic: Inside Solana's Meme Coin Machine on Pump.fun — Medium","source_url":"https://ideakuuu.medium.com/must-read-rug-republic-inside-solanas-meme-coin-machine-on-pump-fun-582f59507007"},{"date":"2025-01-29","event":"Class-action lawsuit Aguilar v. Baton Corporation Ltd. d/b/a Pump.Fun filed in U.S. District Court, Southern District of New York (Case No. 1:25-cv-00880) by Burwick Law and Wolf Popper LLP.","source":"CourtListener — Aguilar v. Baton Corporation","source_url":"https://www.courtlistener.com/docket/69593359/aguilar-v-baton-corporation-ltd-dba-pumpfun/"},{"date":"2025-02-01","event":"Merkle Science publishes report estimating $500 million lost to rug pulls and scams on Solana during 2024.","source":"Solidus Labs Rug Pull Report (citing Merkle Science)","source_url":"https://www.soliduslabs.com/reports/solana-rug-pulls-pump-dumps-crypto-compliance"},{"date":"2025-02-27","event":"SEC Division of Corporate Finance issues guidance concluding that memecoins do not constitute securities offerings, narrowing one potential enforcement avenue for Pump.fun rug-pull victims.","source":"Solidus Labs Rug Pull Report — Regulatory Context","source_url":"https://www.soliduslabs.com/reports/solana-rug-pulls-pump-dumps-crypto-compliance"},{"date":"2025-03-20","event":"Pump.fun launches PumpSwap, its native DEX. Graduated token migrations shift from Raydium to PumpSwap, eliminating the 6 SOL migration fee.","source":"Pump.fun launches DEX called PumpSwap — The Block","source_url":"https://www.theblock.co/post/347360/pump-fun-launches-dex-called-pumpswap-to-instantly-migrate-graduated-tokens"},{"date":"2025-04-07","event":"U.S. DOJ Deputy Attorney General Todd Blanche publicly identifies rug pulls as a federal prosecution priority.","source":"Solidus Labs Rug Pull Report — Regulatory Context","source_url":"https://www.soliduslabs.com/reports/solana-rug-pulls-pump-dumps-crypto-compliance"},{"date":"2025-04-30","event":"Pine Analytics publishes 'Exit Liquidity Machines' report documenting 15,000-plus SOL in profits extracted through same-block coordinated sniping across 15,000-plus Pump.fun launches, involving 4,600-plus sniper wallets. Analysis covers approximately a one-month observation window.","source":"Exit Liquidity Machines — Pine Analytics","source_url":"https://pineanalytics.substack.com/p/exit-liquidity-machines"},{"date":"2025-05-08","event":"Solidus Labs publishes report finding 98.6 percent of Pump.fun tokens are rug pulls or pump-and-dump schemes. Pump.fun spokesperson disputes findings. CoinDesk covers both the report and the rebuttal.","source":"Pump.fun Hits Back at Report That Claimed 98% of Memecoins Are Fraudulent — CoinDesk","source_url":"https://www.coindesk.com/business/2025/05/07/98-of-tokens-on-pump-fun-have-been-rug-pulls-or-an-act-of-fraud-new-report-says"},{"date":"2025-06-25","event":"Judge Colleen McMahon (SDNY) orders consolidation of related Pump.fun class-action cases.","source":"Pump.fun and Solana RICO Lawsuit: Aguilar v. Baton Corporation — Burwick Law","source_url":"https://www.burwick.law/active-cases/pump-fun-and-solana-rico-lawsuit-aguilar-v-baton-corporation"},{"date":"2025-07-22","event":"Amended consolidated complaint adding RICO allegations, new defendants (Solana Labs, Solana Foundation, Jito entities, individual executives), and 25 anonymous KOL defendants filed in SDNY. Estimated damages: $4–5.5 billion.","source":"Solana, Pump.fun Named in Amended RICO Suit — Decrypt","source_url":"https://decrypt.co/331528/solana-pump-fun-amended-rico-suit-alleging-meme-coin-gambling"},{"date":"2025-12-16","event":"Judge McMahon grants plaintiffs leave to file a second amended complaint, incorporating whistleblower-submitted chat logs. Over 5,000 alleged internal messages entered as evidence.","source":"MEV Lawsuit Against Pump.fun, Solana Heats Up — Unchained Crypto","source_url":"https://unchainedcrypto.com/mev-lawsuit-against-pump-fun-solana-heats-up/"},{"date":"2026-01-07","event":"Second amended consolidated class-action complaint filed in SDNY.","source":"Pump.fun and Solana RICO Lawsuit — Burwick Law","source_url":"https://www.burwick.law/active-cases/pump-fun-and-solana-rico-lawsuit-aguilar-v-baton-corporation"},{"date":"2026-02-01","event":"South Korean prosecutors bring the first DEX rug-pull prosecution under the Virtual Asset User Protection Act, charging five individuals over CATFI meme coin launched on Pump.fun in February 2025. Losses: approximately 900 million KRW ($600,000) across 256 investors.","source":"South Korea arrests suspects behind Solana memecoin CatFi — The Block","source_url":"https://www.theblock.co/post/402697/south-korea-first-rugpull-memecoin"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 86e3ad6a-a269-4b3b-921f-cdedbe7d4f78copy