MEV trading returns to court in Pump.fun class-action lawsuit
A US court has allowed new evidence to be incorporated into a class-action lawsuit against memecoin platform Pump.fun, MEV infrastructure firm Jito Labs, and the Solana Foundation. The amended complaint includes over 5,000 internal chat logs provided by a confidential informant, allegedly revealing coordinated discussions about an MEV scheme. The lawsuit, originally filed in July, accuses Pump.fun of misleading retail investors by marketing “fair” memecoin launches while allegedly colluding with validators to use maximal extractable value (MEV) techniques to front-run retail traders. Plaintiffs claim insiders received preferential access to tokens at low prices before dumping them on retail users. The case could set a significant US legal precedent regarding MEV, a complex and ethically debated practice in crypto. This development follows a recent mistrial in a separate MEV bot case, underscoring the legal system's challenges in adjudicating such technically intricate matters.
cointelegraph12/18 17:30
