TechFlow, July 24 — According to The Block, law firms Burwick Law and Wolf Popper filed an amended complaint on Wednesday, expanding allegations against the memecoin platform Pump.fun to include the Solana Foundation, Solana Labs, and executives from Jito. The lawsuit names several executives as defendants, including Solana co-founders Anatoly Yakovenko and Raj Gokal, as well as Dan Albert, executive director of the Solana Foundation.
The plaintiffs allege that the defendants violated the RICO Act (Racketeer Influenced and Corrupt Organizations Act), with charges including illegal gambling, wire fraud, intellectual property theft, and unlicensed money transmission. The complaint states: "From token design to fee extraction and infrastructure maintenance, Solana Labs and Jito Labs were consciously and deliberately involved—they are not bystanders to the fraud, but its architects, beneficiaries, and co-conspirators."
Pump.fun is alleged to have earned $722 million from its "illegal gambling enterprise" and is accused of providing a money laundering channel for the North Korean hacking group Lazarus Group. Pump has hired several prominent attorneys for defense, including cryptocurrency legal expert Stephen D. Palley.
