$DOGS Dear Morrison Cohen Legal Team,
I am reaching out to bring your attention to what I believe to be one of the most extensive crypto frauds of 2025: the DOGS token rug pull, which I believe was orchestrated by Pavel Durov, founder of Telegram, in alleged partnership with Binance, the world's largest cryptocurrency exchange.
Overview of the DOGS Token Scam
Token Name: DOGS (Memecoin)
Peak Price: $0.015
Current Price: $0.00018
Estimated Global Losses: Billions of dollars
Timeline: March–May 2025
Exchanges Involved: Binance (primary), Bitget, MEXC, and others
Main Alleged Perpetrators: Pavel Durov (Telegram), Binance Executives, Sasha Plotinov (associate)
DOGS was launched as a meme coin that quickly gained massive global attention—largely due to promotional efforts via Telegram and its implied connection to Durov himself. Within days, it was listed on Binance, lending it credibility and legitimacy to millions of retail investors.
However, after reaching a peak of $0.015, insider wallets began aggressively dumping tokens, causing a catastrophic collapse to $0.00018. This took place while Bitcoin was trading at an all-time high above $106,000, making the loss even more suspicious and coordinated.
Why This Is Not Just a Market Fluctuation
This wasn’t a normal market correction—it has the hallmarks of a premeditated rug pull. Binance's listing, paired with Telegram's reach, misled investors into believing DOGS was legitimate and backed by strong tech or community foundations.
All signs indicate that this was a Ponzi-style scheme disguised as a memecoin movement. We believe:
Binance and its representatives knew DOGS was a fraudulent scheme.
Telegram served as the platform to hype and manipulate markets.
Durov and his associates may have directly profited by dumping tokens via shell wallets.
This has resulted in a massive loss of public trust in centralized exchanges and the crypto industry as a whole.
Request for Legal Representation
We are forming a global group of affected victims and are seeking legal representation for:
Civil and/or class action litigation in the U.S. and international jurisdictions.
Filing regulatory complaints with the SEC, CFTC, and DOJ.
Seeking restitution and public exposure of the responsible entities.
We are prepared to provide:
On-chain evidence of token dumping.
Wallet tracing linked to Telegram insiders.
Exchange listing agreements or communications.
Promotional materials and influencer campaigns tied to DOGS.
If your firm has the capacity to take this case, we would appreciate a preliminary consultation. We believe this matter is of significant public interest and urgency.
E-mail addresses of law firms
Report to Major International Agencies
A. United States
SEC (Securities and Exchange Commission):
https://www.sec.gov/tcr – Use this to report unregistered securities and fraud.
CFTC (Commodity Futures Trading Commission):
https://whistleblower.gov – For token-based financial fraud.
FBI Internet Crime Complaint Center (IC3):
https://www.ic3.gov
B. European Union
Europol:
Send detailed reports to cybercrime division: https://www.europol.europa.eu
National Financial Authorities:
Report through your country’s regulator (e.g., BaFin in Germany, AMF in France, etc.)
C. United Kingdom
Action Fraud (National Fraud & Cyber Crime Reporting Centre):
https://www.actionfraud.police.uk/
FCA (Financial Conduct Authority):
https://www.fca.org.uk
D. Asia-Pacific
Monetary Authority of Singapore (MAS):
https://www.mas.gov.sg
Korean Financial Supervisory Service (FSS):
Fi
le online at: http://english.fss.or.kr
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