Lawsuit Accuses Solana Labs of Meme Coin Market Manipulation

2025-12-22 00:16

A lawsuit has been filed alleging that Solana Labs and Pump.fun engineers coordinated to manipulate meme coin prices through over 5000 private messages. The legal action highlights concerns over market manipulation and has attracted regulatory scrutiny, particularly as 93% of token pools on certain decentralized exchanges (DEXs) are reportedly at risk of rug pulls. This legal pressure has also affected Solana's market cap, with SOL prices showing signs of weakness.

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