Solana Labs and Jito Labs served Pump Fun lawsuit
Solana Labs and Jito Labs have been served a Pump Fun lawsuit accusing the two firms of acting as “co-conspirators” in the memecoin platform’s alleged $1.5 billion illegal casino enterprise.
Legal firm Wolf Popper, who filed the lawsuit alongside fellow legal firm Burwick Law last month, served the defendants this week. Defendants will now have 21 days after being served to file a response or motion.
Alongside the two crypto firms, Solana Foundation’s General Counsel, Executive Director, and Head of Communications, Yelena Cavanaugh, Dan Albert, and Austin Federa, respectively, have also been served.
Read more: Pump Fun judge questions Burwick Law’s need for two lawsuits
Solana Foundation and Jito Foundation are yet to be served, alongside various other executives, including: Jito CEO and COO Lucas Bruder and Brian Smith, Solana Foundation President Lily Liu, and co-founders Anatoly Yakovenko and Raj Gokal.
Two lawsuits against Pump Fun and its team, Alon Cohen, Dylan Kerler, and Noah Tweedale, previously did not include the likes of Solana and Jito, but have since been merged and updated to include the new defendants.
The lawsuit paints the two crypto firms as integral to Pump Fun’s enterprise as Pump Fun takes advantage of their blockchain infrastructure, and it further alleges that these firms work in tandem to avoid security laws, scale up Pump Fun’s operation, and avoid consumer protections.
As for Pump Fun itself, the lawsuit accuses the firm of facilitating the money laundering of $1.5 billion worth of crypto stolen from the ByBit crypto exchange. Pump Fun’s execs were initially late to hire legal representation after they were served and almost missed a deadline to file a response.
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