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Pump.fun, a platform that enables users to launch and trade memecoins, is reportedly facing heightened regulatory and legal scrutiny. A document circulating online purports to show the U.S. Securities and Exchange Commission ordering the suspension of the platform’s profile on X and warning that individuals who traded on Pump.fun could face criminal penalties ranging from 18 months to life in prison. The SEC has not publicly confirmed the order, and details of any formal charges remain unclear. Separately, Burwick Law said it is seeking claimants for a proposed class-action lawsuit against Pump.fun on behalf of investors who say they suffered losses on the platform. The firm has not disclosed the size of the alleged losses or the number of prospective plaintiffs. Pump.fun and the SEC did not immediately respond to requests for comment.