Law Firms Demand Pump.fun Remove 200 Memecoins Over Intellectual Property Violations

Solana-based memecoin creation platform Pump.fun is facing legal action from two prominent U.S. law firms, Burwick Law and Wolf Popper, over the alleged unlicensed use of their intellectual property (IP). The firms are demanding the immediate removal of various tokens created on the platform, including one named Dog Shit Going NoWhere (DOGSHIT2), which they claim spoof their names, logos, and even their employees’ identities.

In a statement released on February 5 via social media platform X, Burwick Law outlined its position, stating that it and Wolf Popper had sent a cease-and-desist letter to Pump.fun, requesting the removal of these tokens. The letter asserts that Pump.fun is violating the firms' IP rights by allowing users to create tokens that impersonate their brands without authorization.

200 Infringing Tokens Created on Pump.fun

Max Burwick, Managing Partner of Burwick Law, spoke to Cointelegraph, revealing that since the firms filed a class-action lawsuit against Pump.fun last week, over 200 memecoins have been created using the logos, names, and other intellectual property associated with Burwick Law and Wolf Popper. In some cases, tokens have even been created using the names and likenesses of Burwick Law employees and clients involved in the ongoing lawsuit.

Burwick Law has stated that Pump.fun has the technical capability to remove the infringing tokens but has not taken action, despite the legal and financial risks associated with these violations. The firm claims that the platform has neglected its responsibility to protect against these types of abuses, which could disrupt the legal process and undermine public trust.

Allegations of Intimidation and Interference in Litigation

The cease-and-desist letter also highlights that the memecoins launched on Pump.fun may be part of a broader campaign to intimidate clients and interfere with the litigation process. Burwick Law alleges that some of the tokens impersonate their plaintiffs, using blockchain technology as a tool to disrupt the justice system.

“These efforts represent the use of blockchain technologies to disrupt justice and due process,” the law firm stated in the letter. The creation of memecoins designed to mimic plaintiffs in an ongoing lawsuit is seen as an unethical attempt to influence the outcome of the legal proceedings.

DOGSHIT2 Controversy and Legal Action

A major point of contention is the token DOGSHIT2, which was widely speculated to have been created by Burwick Law itself to strengthen its legal case against Pump.fun. However, Burwick has denied any involvement in the creation or deployment of the token. According to Burwick, DOGSHIT2 existed only off-chain in the form of server data until Pump.fun deployed it on-chain, triggered when a first buyer purchased it.

Burwick Law and Wolf Popper filed a class-action lawsuit on January 30, accusing Pump.fun of creating and promoting unregistered securities through the issuance of memecoins. The lawsuit claims that the platform generated approximately $500 million in fees by facilitating the creation of highly volatile, artificial tokens through "guerrilla marketing" techniques. This marketing strategy reportedly led to significant financial losses for retail investors who were exposed to these unstable assets.

The lawsuit, filed on behalf of investor Diego Aguilar in a New York federal court, alleges violations of the Securities Act and seeks compensation for affected investors in the form of rescission of token purchases, monetary damages, and litigation costs.

Pump.fun’s Rapid Growth and Controversial Tokens

Pump.fun’s popularity surged last week, recording an all-time high of $3.3 billion in weekly trading volume. This growth was partly driven by the launch of Trump family-themed memecoins, which generated a significant amount of attention and trading activity on the platform. However, the platform’s sudden rise has been accompanied by controversy, particularly in relation to the legal actions now being taken against it.

The ongoing legal battle between the law firms and Pump.fun is set to test the regulatory boundaries of memecoin creation and the role of platforms in controlling content and intellectual property. As the case progresses, it may have broader implications for the regulation of cryptocurrencies and digital assets, particularly regarding their status as securities.

Conclusion

TIGER 21’s $6 billion crypto position is a clear indicator of the increasing acceptance and adoption of digital currencies by wealthy investors. With an expanding network and a growing appetite for alternative assets like Bitcoin, the firm is positioning itself at the forefront of a rapidly evolving investment landscape. As the cryptocurrency market matures and regulatory clarity improves, it is likely that more institutions will follow suit, incorporating digital assets into their portfolios.