Pump.fun, operating in the Solana ecosystem, faces a lawsuit initiated by Burwick Law over unethical business practices. The firm alleges that the platform generated 398 million USD through dubious promotional tactics and displayed objectionable content.

Despite a weekly trading volume reaching 2.2 billion USD, only 57,144 users have made profits exceeding 10,000 USD, indicating a troubling disparity. Of 14 million wallets, only 298 holders managed to gain over 1 million USD.

Since its inception in January 2024, Pump.fun has dominated the memecoin sector, controlling a significant share of new token launches. As the memecoin market rebounds, its rapid revenue growth raises questions about sustainability and the ethics of its operations.