- Evidence suggests Max Burwick, founder of Burwick Law, may have launched DOGSHIT2 token despite firm’s denial of involvement.
- Crypto researcher Wirelyss linked Burwick to the “Bigbl” account that launched DOGSHIT2 through matching crypto addresses and NFT ownership.
- The lawsuit against Pump Fun may face challenges after SEC’s recent statement that memecoins do not qualify as securities under federal law.
Evidence has emerged suggesting that Max Burwick, Managing Partner and Founder of Burwick Law, likely created the DOGSHIT2 token central to his firm’s lawsuit against Pump Fun, contradicting the firm’s explicit denial of involvement in launching the memecoin.
Cryptocurrency researcher Wirelyss revealed that the account behind DOGSHIT2’s launch, “Bigbl,” shares the same crypto address with the purchaser of DeGods NFT “y00t #6430.” This NFT purchase was made for over $31,000 in December 2022.
The connection between Burwick and the NFT became apparent when Brandon Galang, an associate of Burwick, posted about meeting Burwick for “degen yoga” in 2023. The photo showed three individuals with NFT pictures covering their faces, with the leftmost NFT being the exact y00t #6430 linked to the Bigbl Pump Fun account.
Further evidence includes a visible tattoo on the arm of the person behind the y00t NFT that closely resembles Burwick’s own tattoo. Additionally, a Solana artist followed by Burwick has claimed that Burwick “is a y00t.”
When questioned about who created the DOGSHIT2 token, Burwick reportedly responded, “Why would it matter?” and declined further comment.
Burwick Law has officially stated it has “no affiliation, endorsement, or ownership interest in the DOGSHIT2 token or any related assets. Simply put, our firms have not launched any memecoins onchain.”
Wirelyss has criticized this careful wording, suggesting the firm may have launched the token “off-chain” instead, attempting to shift accountability to the token’s first buyer. Pump Fun itself notes that DOGSHIT2 “was created offchain, which means that the CA deployer may appear different to the actual coin creator.”
The lawsuit against Pump Fun alleges the platform offered and sold unregistered securities while omitting “basic investor protections.” However, this litigation may face significant challenges following the Securities and Exchange Commission’s recent statement that memecoins “do not involve the offer and sale of securities under the federal securities laws.”
The SEC clarified that “persons who participate in the offer and sale of memecoins do not need to register their transactions with the Commission under the Securities Act of 1933 or fall within one of the Securities Act’s exemptions from registration.”
Burwick Law maintains that Pump Fun has the technical capability to remove DOGSHIT2 but is choosing not to “despite the clear financial and legal risks posed to the public.”
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