Law firm Burwick Law refiles lawsuit against Pump.fun, reveals co-founder admitted "Most people lose money"

By: theblockbeats.news|2026/01/14 11:30:17

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BlockBeats News, January 14th, law firm Burwick Law has refiled a lawsuit against Pump.fun, reaffirming in the latest version of the lawsuit that Pump.fun, while promoted as a game of chance, is actually a "manipulated casino" whose leaders "secretly predetermined who would win and who would lose, siphoning huge profits from retail participants".

Internal messages cited in the lawsuit show that Pump.fun co-founder Alon Cohen had admitted that "most people lose". The plaintiff alleges that the platform allowed specific users to front-run the token launches through a priority fee mechanism and accuses certain crypto influencers of promoting tokens without disclosing compensation. Despite the serious allegations, the lawsuit lacks concrete evidence proving direct executive profits, and the judge has allowed the plaintiff to submit an amended complaint containing 5,000 private messages.

-- Price

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