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Core Viewpoint - A class action lawsuit has been filed against Meteora co-founder Benjamin Chow, alleging a systematic fraud scheme that utilized celebrity endorsements to defraud retail crypto investors of at least $57 million [1]. Group 1: Allegations and Operations - The lawsuit claims that Chow and associates operated the Meteora-Kelsier Enterprise as a "fraud factory" disguised as decentralized finance, using the Meteora liquidity-pooling protocol on Solana for multi-token pump-and-dump operations [2]. - Plaintiffs allege that defendants exploited technical settings to acquire a majority of token supplies at negligible costs and manufactured artificial price spikes through undisclosed paid influencers [3]. Group 2: Legal Actions and Demands - The lawsuit seeks disgorgement of all profits, trebling of compensatory damages under RICO statutes, and the appointment of a qualified independent receiver over Meteora's smart-contract programs [4]. Group 3: Fraud Mechanism - The complaint outlines a systematic playbook that includes narrative invention using celebrity endorsements, rigging supply through insider-funded accounts, and engineering price spikes by pausing public trading until insider positions are secured [5]. - The $LIBRA fraud is highlighted as an example, where a social media post from Argentine President Javier Milei coincided with the launch, leading to a retail stampede and subsequent liquidity withdrawal of over $110 million [6][7].