PANews reported on January 16 that according to an announcement by Burwick Law, the law firm is initiating legal action on behalf of Pump.fun memecoin investors, claiming that investors may be eligible for compensation for losses suffered due to these tokens. Those affected can participate in the case by filling out a free questionnaire on its official website. Data shows that of the 14 million wallets that interacted with Pump.fun, only 0.4% made a profit of more than $10,000, and the potential number of victims may reach millions.

Burwick Law has previously stated that it has nothing to do with any tokens that use its name or image, and emphasized that it is committed to bringing accountability to the crypto industry. The current case focuses on potential fraud or manipulation of Pump.fun tokens.