Sony's newly launched layer-2 blockchain platform Soneium has sparked controversy on its first day of operations by allegedly blacklisting multiple meme-based cryptocurrencies, leaving investors and traders frustrated.
Users reported being unable to trade or access specific tokens on the network, with many receiving "forbidden" notifications when attempting to view the affected coins on Soneium's block explorer.
The blacklisting appears to target tokens that use Sony-related intellectual property or branding. One notable example is the meme coin "Aibo," named after Sony's line of robotic dogs, which holds an estimated value of $700,000. The project's team is now working with Soneium to address branding concerns.
Alon, the anonymous founder of cryptocurrency platform Pump.fun, criticized the move, stating that Soneium was "actively blacklisting meme coins they don't like," and argued this decision negatively affected investor holdings.
In defense of their actions, Soneium's development team emphasized their obligation to protect intellectual property rights while supporting Web3 principles of openness and innovation. They referenced their platform documentation, which outlines policies against malicious activities and measures to protect both creators and community members.
The incident has raised questions about the balance between intellectual property protection and decentralized finance principles in blockchain platforms, particularly regarding the role of corporate entities in controlling digital assets.