BlockBeats News, December 19 – The US court was once again asked to weigh in on the practice of maximum extractable value (MEV). The judge approved a motion to amend and refile new evidence regarding MEV trading activities in the collective lawsuits against Pump.fun, Jito Labs, and the Solana Foundation. The plaintiffs allege that Pump.fun used MEV techniques to allow insiders to acquire new tokens at low prices first, then inflate the token prices before selling them to retail participants, who were used as exit liquidity for insiders. Solana Labs, Jito Labs, and others are accused of facilitating these activities.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Pump.fun class-action lawsuit allowed to submit new evidence of MEV transaction behavior
BlockBeats News, December 19 – The US court was once again asked to weigh in on the practice of maximum extractable value (MEV). The judge approved a motion to amend and refile new evidence regarding MEV trading activities in the collective lawsuits against Pump.fun, Jito Labs, and the Solana Foundation. The plaintiffs allege that Pump.fun used MEV techniques to allow insiders to acquire new tokens at low prices first, then inflate the token prices before selling them to retail participants, who were used as exit liquidity for insiders. Solana Labs, Jito Labs, and others are accused of facilitating these activities.