✍1. U.S. Treasury actions against Funnull Technology Inc.
On May 29, 2025, the U.S. Treasury Department (OFAC) imposed sanctions on the Philippine company Funnnull Technology Inc., as well as its director Liu Lizhi, for establishing infrastructure behind hundreds of thousands of fraud sites related to 'pig-butchering'.
These actions aim to disrupt their technical infrastructure and cut off their support for crypto criminals.
The Treasury Office is coordinating with the FBI to provide the private sector with technical information about IPs and sites linked to these operations.
As of now, there is no direct control or freeze related to Pump.fun from this entity or other governmental bodies.
✍️ Legal status of Pump.fun - live updates
A. Token launch timeline
Plan for launch on June 25, 2025, but delayed to mid-July 2025 due to rising legal pressures.
B. Legal lawsuits – securities case
On January 15, 2025, Burwick Law and Wolf Popper LLP filed a class-action lawsuit against Pump.fun, accusing it of selling unregistered tokens and manipulating prices to attract investors.
The lawsuit involves the platform's founders (Noah Tweedale, Alon Cohen, Dylan Kerler), accusing them of 'a deceptive pyramid scheme masquerading as a meme economy'.
There are also alerts regarding intellectual property disputes through Cease-and-Desist filings since February.
C. Strengthening the legal defense team
On June 19, 2025, Pump.fun's defense was strengthened by contracting a team from Brown Rudnick led by Daniel L. Sachs, Kyle P. Dorso, and Stephen D. Palley, who have extensive experience in securities cases and white-collar crimes.
Dr. Account suspensions on platform X
On June 16, 2025, Pump.fun accounts and associated accounts were banned on the 'X' platform as part of a campaign against Mecoin platforms – without official explanation – and were then reinstated after several days.
- What do these developments mean?
The ban against Funnull: delivers a significant blow to the global fraud infrastructure, but has no direct impact on Pump.fun, other than reflecting the rising trend of U.S. institutions against suspicious platforms in the crypto space.
Legal challenges for Pump.fun: pressure continues through securities lawsuits, intellectual property issues, and account disruptions, increasing tension around the timing of the new token launch.
Strong legal defense may give the platform a chance for an effective legal strategy, but the overall outlook remains under the scrutiny of lawyers, investors, and regulatory bodies.
