Summary: Solana Labs, Jito Labs hit with RICO charges in amended Pump Fun fraud lawsuit

Crypto Giants Under Fire: Solana and Jito Labs Face Massive RICO Fraud Lawsuit A legal earthquake is shaking the crypto industry. Solana Labs and Jito Labs, key blockchain players, now face severe federal charges. They have been added as co-defendants in an amended lawsuit concerning the Solana-based memecoin launchpad, Pump.Fun. Burwick Law alleges they actively participated in a sprawling $1.5 billion fraud. The suit claims this wasn't mere infrastructure provision, but a "fraudulent online gambling and money transmission scheme." Solana and Jito Labs are accused of knowingly facilitating Pump.Fun’s rapid token launches and profiting from extracted fees. The platform allegedly operated without regulatory compliance, investor protections, or identity checks. This purported lack of oversight enabled illicit activities, including money laundering. One striking example cites the North Korea-linked Lazarus Group, allegedly using Pump.Fun to funnel funds from an exchange hack. Solana Labs is accused of structuring operations to evade U.S. regulatory oversight while benefiting from U.S. market activity. Jito Labs reportedly provided critical tooling, enabling the system to scale and maximize profits. The charges against all parties now include the powerful Racketeer Influenced and Corrupt Organizations (RICO) Act. This paints a picture of a coordinated enterprise exploiting speculative hype and circumventing consumer protection laws. Beyond RICO, fraud, deceptive marketing, and unjust enrichment counts are also levied. As Pump.Fun's market share declines, this landmark lawsuit could significantly redefine accountability in decentralized finance.