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An amended class-action complaint filed in the Southern District of New York alleged that memecoin platform Pump.fun operated as a “front-facing slot machine cabinet” in extracting more than $5.5 billion from users through deceptive digital asset schemes.
The lawsuit, filed on Wednesday, named Pump.fun’s operators, including pseudonymous developer Bernie, parent company Baton Corp., and infrastructure partners including Solana Labs, the Solana Foundation, Jito Labs and the Jito Foundation as defendants.
The case accused them of engaging in a…
