The creators of Soneium, Sony’s Layer 2 blockchain, are facing criticism for allegedly blacklisting certain meme coins.
Pump.fun’s founder, Alon, accused the blockchain of “actively blacklisting meme coins they don’t like, instantly nuking everyone’s position to 0.” Others questioned how much authority blockchain developers should have and how to balance ensuring a permissionless network and safeguarding intellectual property rights.
The blacklisting of the meme coins happened on the day the network launched, rendering them untradable on the network. The blacklisted tokens were those that copied or used trademarks that Sony or the blockchain considers protected, and their network activity has been prohibited.
On Soneium’s official block explorer, users who try to access these tokens receive a display message that they are prohibited. These incidents have frustrated users, as seen by the multiple posts they’ve posted on X.
Time.fun Founder Criticises the Network’s Actions
Time.fun’s founder, Kawz, said that the platform also suspended token contracts and claimed that the blacklisting had caused users to lose their funds unexpectedly. “On launch day, Soneium rugged users over $100,000 in Ethereum. It’s unlike anything I’ve ever seen,” Kawz said.
He added that he knew at least two tokens that had already been blocked. He cited the example of the recently released Aibo meme coin, named after a line of robotic dogs manufactured by Sony, with an overall evaluation of $700,000, according to DexScreener.
However, Aibo developers said they are collaborating with the blockchain platform to find a quick solution and might launch a new logo.
Soneium Responds To The Controversy
In response to these allegations, Soneium wrote via X, “Our documentation explains how we protect IP rights and counter malicious activities while sustaining Web3’s fundamental principles of transparency and creativity.”
In the announcement, the blockchain’s development team added that it will continue to enforce the intellectual property rights of fans and users where necessary. Sony Block Solutions Labs, Singapore’s international conglomerate’s blockchain division, introduced the blockchain earlier today.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
