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Evidence / Dossier A / R-A01 · rev. 2

Complaint reproduces an April 2024 message labelled “Alon” about low odds

What does Figure 53 of the second amended complaint show, and what does it not establish?

documented publicationprimary document2 source records from 2 reporting origins

documented publication: The cited material was published as described. Says nothing about whether its contents are true.

Event
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About this date

Date taken from the figure caption. The 15:24 shown in the image has no stated timezone, so only the date is stored.

Page 104 of the January 2026 complaint reproduces a chat message labelled “Alon”, captioned 27 April 2024. The message says most low-cap tokens die, that the platform exposed more people to 'really really low odds', and that better discovery would leave people 'generally happier (even though most lose)'.

“people will generally be happier (even though most lose)”

Alon — Message labelled “Alon” in Figure 53. The complaint identifies the sender as Alon Cohen. Dated: April 27, 2024 (figure caption; timestamp in image 15:24, timezone not shown). S01, p. 104, fig. 53Context: The full message argues that most low-cap tokens die and that Pump.fun had 'democratized' trading such tokens, which exposed more people to 'really really low odds'. It goes on to suggest that an AMM and better discovery matching users' interests and risk tolerance would leave people 'generally happier (even though most lose)'.Authentication limit: transcribed from a screenshot published in a party's court filing. The original chat has not been authenticated by UNREPOST.

What the sources support

The complaint PDF, page 104, Figure 53, opened and read on 27 October 2026.

  • Plaintiffs published this screenshot as Figure 53 in Document 129, filed 8 January 2026.
  • The message wording in the image, including the excerpt quoted here.
  • The complaint attributes the message to co-founder Alon Cohen (¶ 388).

What remains unresolved

  • Whether the screenshot faithfully and completely reflects the original Telegram message. UNREPOST has not authenticated it.
  • What came before or after it in the conversation.
  • Whether the plaintiffs' reading in ¶ 388, that it shows a design 'engineered to bankrupt most users', is correct. That is an allegation.
Limits of this receipt
  • Authentication limitation: this is a screenshot inside a party's filing, not an inspected original chat export.

Source card for R-A01

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