Users accuse Sony of "rug pulling" over $100K in ETH through sudden token restrictions.
Restrictions look based on copyright issues, but critics question the fairness of blockchain control.
Sony Block Solutions Labs may have successfully launched its Layer 2 blockchain Soneium but that did not come without some controversy on the side. Earlier today, the Singapore-based blockchain subsidiary of the multinational company launched Soneium, much to the excitement of its waiting users. However, things soon took a different turn shortly after.
According to reports, the firm allegedly blacklisted some meme coins, meaning that certain tokens are restricted, hence, untradable and maybe totally useless on the network.
While Sony maintains that the affected tokens were blacklisted for violating intellectual property rights, many users are having none of the explanation. They have been left frustrated, with many now taking to social media to air their displeasure.
Users Call Out Sony over Soneium Network Launch
According to some users on the X platform, Sony’s decision may have been too rash and was not well thought out. Some, on the other hand, believe that the blacklisting decision had nothing to do with the tokens but all to do with Sony’s personal interests.
One prominent example in this regard is the pseudonymous founder of pump.fun, Alon, who said that the platform looks to be “actively blacklisting meme coins they don’t like, instantly nuking everyone’s position to 0”.
Another popular name that has lent a voice to the growing backlash is Time.fun’s founder, otherwise known as Kawz. He claimed that the blacklisting may have affected users in such a way that it might be safe to say that Sony did pull off a rug pull on the unsuspecting users, taking away hundreds of dollars from them. Kawz said:
“Soneium rugged users >$100k in ETH on launch day. I’ve never seen anything like it.”
Awaiting Response
Interestingly, there has not been any official word in response to any of these claims. That is, from either Sony or Soneium. However, it looks as though the blacklisting specifically targeted those tokens whose name or branding appears to clash with some other project.
Whether or not that was what happened, some users insist that there must be a balance between protecting intellectual property and maintaining a permissionless network. Hence, the reason for their growing concerns. That is, over the level of control that blockchain developers should have.
For now, any user who attempts to use any of the affected tokens will get a forbidden prompt. However, it is possible that the restrictions may later be lifted for tokens that are able to resolve their copyright issues.
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