Pump.fun / Solana Labs RICO Class Action
Summary
Aguilar v. Baton Corporation Ltd. (Case No. 1:25-cv-00880, S.D.N.Y.) is an active federal class action alleging that Pump.fun, Solana Labs, the Solana Foundation, and named executives operated a coordinated racketeering enterprise — referred to as the 'Solana-Pump.Fun Racketeering Enterprise' — that rigged its memecoin launchpad to benefit insiders while marketing it as a fair platform to retail investors. Plaintiffs allege aggregate retail losses between $4 billion and $5.5 billion, while the platform collected an alleged $722 million in fees. As of early 2026, defendants have filed motions to dismiss the Second Amended Complaint; no ruling on those motions has been publicly reported as of June 2026.
Connected Entities
1 entities · 10 linked investigations- + 7 more
Timeline(17 events)
2024-01-19
Pump.fun platform launched by Noah Tweedale, Alon Cohen, and Dylan Kerler through Baton Corporation Ltd.
PANews / Wikipedia2025-01-16
Plaintiff Kendall Carnahan files class action in SDNY related to PNUT token sales on Pump.fun, represented by Wolf Popper LLP and Burwick Law.
Wolf Popper LLP2025-01-30
Plaintiff Diego Aguilar files class action in SDNY against Baton Corporation Ltd. (Pump.fun) and co-founders for alleged unregistered securities sales, Case No. 1:25-cv-00880.
CoinDesk2025-04-08
Baton Corporation retains Brown Rudnick LLP (attorneys Sachs, Dorso, and Palley) as defense counsel, one day before their response deadline.
Protos2025-05-01
Solidus Labs publishes its 2025 Rug Pull Report, finding 98.6% of tokens on Pump.fun collapsed to under $1,000 in liquidity across a sample of 7 million+ tokens (January 2024 – March 2025).
Solidus Labs / CoinDesk2025-07-22
Plaintiffs file Consolidated Amended Complaint adding Solana Labs, Solana Foundation, Jito Labs, and individual executives as defendants with RICO allegations, expanding claimed damages to $5.5 billion.
Wolf Popper LLP / Protos2025-08-07
Solana Labs, Jito Labs, and three Solana Foundation executives formally served with the amended complaint.
Protos2025-09-05
Skadden files motion to dismiss on behalf of Jito Labs, arguing plaintiffs failed to plead any relationship between Jito Labs and Pump.fun.
Skadden2025-09-26
Plaintiffs voluntarily dismiss all claims against Jito Labs, Jito Foundation, CEO Lucas Bruder, and COO Brian Smith without settlement consideration.
Skadden2025-12-09
Judge Colleen McMahon issues order granting plaintiffs leave to file a Second Amended Complaint, citing new whistleblower evidence of ~5,000 internal chat messages.
Crypto Times / FinanceFeeds2025-12-15
Burwick Law files Notice of Defendant Misconduct alleging Pump.fun orchestrated a memetic harassment campaign against plaintiffs' counsel using the platform's token system.
Protos2025-12-17
Unverified social media rumors allege Pump.fun co-founder Alon Cohen was detained in Brazil; no official source confirmed the claims as of that date.
LiveBitcoinNews (low credibility claim)2026-01-07
Plaintiffs file Second Amended Complaint incorporating whistleblower chat logs; complaint names 25 additional anonymous KOL defendants alongside original institutional defendants.
Burwick Law / Cryptopolitan2026-01-13
Court conference scheduled at which a Baton Corporation representative was to appear before Judge McMahon regarding alleged misconduct letter motion.
Cryptopolitan2026-02-20
Briefing on motions to dismiss closes (defendants' reply deadline). No ruling publicly reported as of June 2026.
Crypto TimesDecision Log
- hash: 2MuW5yPuRdU5vmWqw6Kv8MeGtWQtjY6vRi2KdZsCsyTa
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/2/2026, 9:25:00 PM
last updated: 6/2/2026, 9:25:06 PM
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