Crypto Times Logo Black
Google News Follow Banner
  • News
    • Market
    • Bitcoin
    • Ethereum
    • Altcoins
    • Regulations & Policies
    • DeFi News
    • Blockchain News
    • Industry
  • Exclusive
  • Opinion
  • Learn
    • Explained
    • How To
    • Insights
  • Podcasts
  • More
    • About Us
    • Our Authors
    • Contact Us
    • Editorial Policy
The Crypto TimesThe Crypto Times
  • All News
  • Market
  • Bitcoin
  • Ethereum
  • Altcoins
  • Regulations & Policies
  • Blockchain
  • DeFi
  • Industry
  • Exclusive
  • Opinion
Search
  • News
    • Market
    • Bitcoin
    • Ethereum
    • Altcoins
    • Regulations & Policies
    • Blockchain
    • DeFi
    • Industry
    • Exclusive
    • Opinion
  • Learn
    • Explained
    • How To
    • Insights
  • Quick Links
    • About Us
    • Our Authors
    • Contact Us
    • Editorial Policy
    • AI Policy
    • Sponsored & Advertorial Policy
  • Podcasts
Follow US
© 2026 By Crypto Times. All Rights Reserved.
Market News

Solana, Jito Exces, Named in Expanded RICO Suit Over Pump.fun

Written By Shruti Lakhlani
Fact Checked by Dhara Chavda
Published July 24, 2025 7:49 PM
Make The Crypto Times preferred on GoogleGoogle
Solana, Jito Exces, Named in Expanded RICO Suit Over Pump.fun

In a major legal escalation in the case against memecoin platform Pump.fun, law firms Burwick Law and Wolf Popper amended their lawsuit, adding high-profile names to the list of defendants. Filed on Wednesday, the lawsuit invokes the Racketeer Influenced and Corrupt Organizations (RICO) Act and includes serious claims such as unauthorized money transmission, wire fraud, illicit gambling, and intellectual property theft. 

Pumpdotfun Litigation Update

Burwick Law, on behalf of plaintiffs, filed a new complaint in federal court in the Southern District of New York alleging RICO claims against Anatoly Yakavenko, Raj Gokal, Dan Albert, Lily Liu, Austin Federa, Solana Labs, Solana Foundation, Alon…

— Burwick Law (@BurwickLaw) July 23, 2025

The amended complaint names Solana Foundation, Solana Labs, Jito Labs, and several high-ranking executives, including Solana Co-founders Anatoly Yakovenko and Raj Gokal. Also listed are Solana Foundation’s Executive Director Dan Albert, President Lily Liu, and former Head of Communications Austin Federa. Jito Labs executives Lucas Bruder (CEO) and Brian Smith (COO) are also defendants, along with Pump.Fun Co-founders Alon Cohen, Dylan Kerler, Noah Bernhard, and Hugo Tweedale.

According to the filing, the defendants are accused of orchestrating a “digital casino”, via the Pump.fun platform, allegedly designed to simulate gambling via memecoin creation and trading. The lawsuit claims this operation violates several U.S. financial laws, including the Bank Secrecy Act, the USA PATRIOT Act (Section 311), and OFAC sanctions regulations. 

The plaintiffs argue that Pump.Fun exposed the public to serious criminal risks by operating without appropriate Know Your Customer (KYC) procedures or anti-money laundering (AML) protections. They allege that North Korea’s Lazarus Group laundered proceeds from the $1.5 billion Bybit hack by launching a memecoin called “QinShihuang” through Pump.Fun.

Further, the platform has been accused of facilitating hate-based and trademark-infringing tokens to manipulate attention and trading activity. The lawsuit also alleges Jito Labs exploited its infrastructure by intercepting and redirecting profitable transactions to the highest bidders.

Judge Colleen McMahon recently consolidated this case with an earlier class action filed by PNUT memecoin investors. The lead plaintiffs are Diego Aguilar, Kendall Carnahan, and Michael Okafor.

Pump.fun reportedly earned over $722 million from its operations. Despite attempts to contact the Solana Foundation and Pump’s parent Baton Corporation, no immediate comments were provided. A Jito Labs spokesperson declined to respond.

As litigation unfolds, Pump has retained a high-profile legal team, including crypto attorney Stephen D. Palley and former SEC investigator Daniel L. Sachs, signaling a complex battle ahead.

Also Read: Pump.fun’s PUMP Slides 20% After Co-Founder Delays Airdrop Plans

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

Follow The Crypto Times on Google News to Stay Updated!      Google News
Google News Banner

TAGGED:Pump.funSolana (SOL)
Share This Article
Whatsapp Whatsapp LinkedIn Telegram Copy Link

Latest News

Crypto Market Live: LAB Token Collapses 85% to $2

Prediction Market Fight May Reach Supreme Court CFTC Chair Selig

Prediction Market Fight May Reach Supreme Court: CFTC Chair Selig

Anchorage Bets Big on AI Economy With New Banking Model

Anchorage Bets Big on AI Economy With New Banking Model

Tapnob Rolls Out Crypto-to-Naira Payment Platform in Nigeria

Tapnob Rolls Out Crypto-to-Naira Payment Platform in Nigeria

Clarity Act on Fast Track Senator Moreno Sets July 4 Deadline

Clarity Act on Fast Track? Senator Moreno Sets July 4 Deadline

Find Us on Socials

You may also like

Crypto Market Today Utya, Dogs, LAB Top Gainers as Bitcoin Reclaims $81K

Crypto Market Today: Utya, Dogs, LAB Top Gainers as Bitcoin Reclaims $81K

Solana and Google Cloud Roll Out Pay.sh for AI API Access

Solana and Google Cloud Roll Out Pay.sh for AI API Access

Rep. Horsford Says Crypto Tax Bill Is Foundation as CLARITY Stalls

Rep. Horsford Says Crypto Tax Bill Is Foundation as CLARITY Stalls

MoonPay Eyes Full-Stack Crypto With DFlow Acquisition

MoonPay Eyes Full-Stack Crypto With DFlow Acquisition

The Crypto Times Logo PNG

Providing real-time, accurate Crypto reporting. Your trusted source for Crypto News and Research.

Stay Updated

All News
Exclusive
Opinions
Learn
Podcasts

Company

About Us
Our Authors
Editorial Policy
AI Policy
Advertorial Policy

Get In Touch

Contact Us
Career

Find Us on Socials

X-twitter Linkedin Telegram Youtube Instagram

© 2026 The Crypto Times | A BITROCK TECHNOLOGIES L.L.C. Company.

DMCA.com Protection Status
  • Terms and Conditions
  • Disclaimer
  • Privacy Policy
  • Cookie policy
Do Not Sell or Share My Personal Information