At least two memecoins were sued for ceasing to exist after using the original internet meme image. The case arose after the explosion of memecoins trying to occupy a Pepe (PEPE) powered space.
Thus, many meme cryptocurrency projects came with promises to surpass Dogecoin (DOGE), Shiba Inu (SHIB), and others.
Subpoenas against memecoin projects created as tokens on the Ethereum network were delivered via smart contracts on the blockchain itself.
Analyst says processed memecoin projects are pump-and-dump schemes
With the meteoric rise of PEPE between April and May 2023, other memecoin makers appeared in the market with new promises of funny projects, using the image of some original internet memes.
An example is Gata Rabugenta (Grumpy Cat), a meme whose creator claims to have copyright on the project. In recent days, he has been urging the cryptocurrency community not to buy the “GrumpyCat Coin”, which he called an unrealistic scam.
Another project called “NYAN Meme Coin” has also attracted attention in recent years, using the image of a colorful cat. However, both projects have now received injunctions via blockchain, pre-trial orders.
That is, if the creators and influencers who publicize the projects do not suspend their activities, they can take legal action in the US.
Noticing the move, blockchain analyst ZachXBT joked that memecoin scams received onchain subpoenas, a case that is extremely unusual.
“Wow, pump and dump memecoins ‘Nyan meme coin’ and ‘GrumpyCat Coin’ just got stop-and-sist letters onchain.”
Wow both pump and dump meme coins @Nyanmemecoin @GrumpyCat_Coin just ceased letters were sent to the chain. pic.twitter.com/drJvjfOQr0
— ZachXBT (@zachxbt) May 18, 2023
Brazilian known as millionaire with Dogecoin stands up for the defense of memecoins he recommended to his followers
Brazilian Glauber Contessoto, who lives in the US and is better known as ProTheDoge among memecoin fans, championed the processed projects.
In recent days, he even received allegations of supporting new memecoin scams, the so-called pumps and dumps. However, according to Glauber, people are trying to come to terms with decentralization.
Imagine trying to sue decentralization.
— SlumDOGE Millionaire (@ProTheDoge) May 18, 2023
Not all of his followers agreed with his view, pointing out that copyright still exists and laws must be followed.
It is not clear what the authors of the triggered memecoin projects intend to change so as not to suffer justice, as an out-of-court settlement has already appeared on their radar. If they refuse to respond or resolve the situation, the matter could go to court in the future.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.