TechFlow news — On January 16, according to Cointelegraph, U.S. cryptocurrency law firm Burwick Law announced it will file legal action on behalf of investors who suffered losses on Pump.fun. Reportedly, among the 14 million crypto wallets that interacted with Pump.fun, only 0.4% achieved profits exceeding $10,000.
Burwick Law stated that over recent months, while hosting inappropriate content such as drug use and self-harm on its platform, Pump.fun has collected hundreds of millions of dollars in fees. The firm is now inviting potential class-action members to join its investigation. Notably, the UK Financial Conduct Authority (FCA) banned UK residents from accessing the Pump.fun platform in December last year.
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