Ben Pasternak Believe Token Class Action, Are You a Class Member? If Yes, How Can You Claim Your Money?

The Ben Pasternak class action lawsuit is a federal crypto fraud case where investors who purchased, held, or acquired $PASTERNAK, $LAUNCHCOIN, or $BELIEVE tokens between January 8, 2025 and March 23, 2026 may have legal standing to participate. Burwick Law filed the complaint on March 23, 2026 in the U.S. District Court for the Southern District of New York, naming Ben Pasternak, B24 Inc., and the Believe Foundation as defendants. Plaintiffs allege that Pasternak made false statements about insider ownership, broke repeated buyback promises, and engineered a forced token migration that destroyed hundreds of millions of dollars in investor value.

Quick Facts: Lee v. Pasternak Class Action

Field	Detail
Case Name	Lee v. Pasternak
Settlement Status	Litigation Phase — No Settlement Yet
Filing Date	March 23, 2026
Current Court Stage	Early Litigation — No hearing date confirmed
Who Qualifies	Purchasers or holders of $PASTERNAK, $LAUNCHCOIN, or $BELIEVE tokens from Jan. 8, 2025 – Mar. 23, 2026
Claim Deadline	TBD — No settlement reached; no claim form exists yet
Payout Per Person	TBD — No settlement reached; no damages amount confirmed
Lead Law Firm	Burwick Law (filed on behalf of plaintiffs)
Court & Jurisdiction	U.S. District Court, Southern District of New York
Last Updated	April 23, 2026

Current Status & What Happens Next

• The case is in its early litigation phase. No settlement exists, no claim deadline applies, and no payout amount is confirmed at this stage.
• Pasternak has not publicly responded to the lawsuit as of the filing date.
• The court has not yet scheduled a class certification hearing or set an objection deadline — both are TBD pending procedural filings.

What Is the Ben Pasternak Lawsuit About? Lee v. Pasternak, No. TBD — SDNY (2026)

The Believe platform launched in January 2025 on the Solana blockchain under the name Clout. It offered a mobile-accessible launchpad for meme tokens and creator-backed digital assets. The platform accepted credit card payments and required no cryptocurrency wallet, no technical knowledge, and no investor accreditation. That design drew in a large pool of everyday consumers with little or no prior crypto experience.

The platform cycled through three tokens: $PASTERNAK (January 2025), $LAUNCHCOIN (April 2025), and $BELIEVE (October 2025). According to the complaint, Pasternak publicly claimed he had “0 ownership” in the original token while allegedly maintaining insider control. The lawsuit argues that statement was engineered to create false trust in retail buyers — a tactic the complaint describes as a deliberate deception.

The complaint alleges violations of New York General Business Law §§ 349 and 350 (deceptive business practices and false advertising), the California Unfair Competition Law, the California False Advertising Law, negligent misrepresentation, and unjust enrichment. If you have followed other crypto platform lawsuits, this case shares similar legal theories to the emerging wave of consumer token fraud litigation under state consumer protection statutes.

The defendants — Pasternak personally, B24 Inc. (which developed and operated the platform), and the Believe Foundation (which controlled the token treasury and buyback wallet) — collectively held alleged influence over large portions of the token supply. The complaint estimates that defendants extracted approximately $54 million in total platform fees. Pasternak personally earned creator fees on every transaction involving tokens he created.

Who Is Eligible for the Ben Pasternak Believe Lawsuit?

The proposed class covers all people who purchased, acquired, or held $PASTERNAK, $LAUNCHCOIN, or $BELIEVE tokens from January 8, 2025 through March 23, 2026, and suffered financial losses as a result.

• You may qualify if you bought or held $PASTERNAK tokens after Pasternak’s January 24, 2025 “0 ownership” statement on X.
• You may qualify if you purchased or held $LAUNCHCOIN tokens at any point during the class period, including during the period when buyback promises were made and not honored.
• You may qualify if you held $LAUNCHCOIN and your tokens were destroyed or diluted by the forced October 2025 migration to $BELIEVE.
• You may qualify if you purchased $BELIEVE tokens after the October 2025 migration and suffered losses.
• You may qualify if you used the Believe platform via credit card payment and had no prior crypto experience — the complaint specifically flags the platform’s design targeting non-accredited retail consumers.
• You may qualify if you are a U.S. resident (California and New York residents have additional statutory protections under this complaint’s legal claims).

Note: Pierre Montmeas, one of the named plaintiffs, is a French citizen, so international holders may also have standing — consult an attorney regarding non-U.S. eligibility.

Potential Recovery & Legal Theory

The lawsuit seeks damages, restitution, and other equitable relief on behalf of a nationwide class. Plaintiffs are pursuing three categories of recovery.

First, actual damages for investment losses — meaning the money investors lost on tokens that collapsed after Pasternak’s alleged misstatements. Consumer damages are conservatively estimated at hundreds of millions of dollars, according to the complaint.

Second, the plaintiff seeks court orders requiring defendants to compensate for actual damages, refund platform and creator fees, and where necessary, impose constructive trusts and injunctive relief on traceable digital assets. This means a court could potentially freeze or claw back crypto assets tied to the defendants.

Third, the legal theory rests on the three-part deception alleged: (1) the false “0 ownership” claim at launch, (2) at least twelve public promises of a “flywheel” buyback over five months that were never honored, and (3) the forced October 2025 token migration. The migration allegedly expanded total token supply by 33%, directed roughly 25% of the new tokens to insiders, and permanently destroyed the holdings of anyone who missed the two-week migration window. For context on how unjust enrichment and negligent misrepresentation work as legal theories in crypto cases, see our related article on [Crypto Token Class Action Lawsuits: What Investors Need to Know].

No payout amount per person is confirmed. That figure depends on class certification, the number of valid class members, and eventual court resolution or settlement.

How to Join the Lawsuit

No claim form exists yet. This case is in its early litigation phase. Here is what eligible investors should do right now:

Step 1 — Document your purchase history. Pull all transaction records for $PASTERNAK, $LAUNCHCOIN, and $BELIEVE tokens — wallet addresses, exchange confirmations, and credit card receipts if you used the platform’s card payment option.

Step 2 — Note your exact entry and exit prices, and calculate your approximate net loss. Courts and attorneys use these figures to assess your individual damages.

Step 3 — Contact Burwick Law directly to register your interest or inquire about joining the class. As the filing firm, they represent the lead plaintiffs and can advise on class participation.

Step 4 — Monitor court filings in the Southern District of New York for case progression updates, class certification motions, and any future settlement notices.

Step 5 — If you received any official notice about this lawsuit by mail or email, save it. That notice means you are already identified as a potential class member.

Step 6 — Do not opt out until you fully understand what that means. Opting out preserves your right to sue individually but removes you from any class recovery. Consult an attorney before making that decision.

If the class gets certified, most investors will be automatically included — you generally do not need to take action to stay in the class.

Case Timeline

Event	Date
Believe Platform Launched (as “Clout”)	January 2025
$PASTERNAK Token Launch + “0 Ownership” Statement	January 24, 2025
$LAUNCHCOIN Launch	April 2025
LAUNCHCOIN Peak (~$370M Market Cap)	May 2025
Flywheel Buyback Promises Made (12 statements)	May – October 2025
Forced Token Migration to $BELIEVE	October 2025
Class Action Filed (Lee v. Pasternak)	March 23, 2026
Class Certification Hearing	TBD — not yet scheduled by court
Next Scheduled Hearing	TBD — pending court assignment
Potential Settlement or Trial Date	TBD — early litigation stage

Frequently Asked Questions

Do I need a lawyer to join the Ben Pasternak class action? 

No. If the court certifies the class, eligible token holders in the Southern District of New York case are automatically included without hiring their own attorney. However, if you want to opt out and file an individual lawsuit, you will need separate legal counsel. Contact Burwick Law if you have questions about your specific situation.

Is the Lee v. Pasternak lawsuit legitimate? 

Yes. Burwick Law filed this case on March 23, 2026 in the U.S. District Court for the Southern District of New York — a federal court. The complaint names real parties, cites specific statutes including New York General Business Law §§ 349 and 350, and documents specific on-chain and public statement evidence.

When will I receive a payment? 

No payment timeline exists yet. The case must first clear class certification, then either settle or go to trial. Federal class actions at the Southern District of New York typically take two to five years to resolve. Monitor the PACER docket for scheduling updates.

What if I missed transactions or can’t find my records? 

Solana blockchain transactions are publicly verifiable. A crypto forensic expert or your exchange’s transaction history can often reconstruct purchase records. Burwick Law may also have tools to help class members document losses — contact them directly.

Will any settlement or court award affect my taxes? 

Possibly. The IRS generally treats lawsuit recoveries as taxable income, though the classification depends on whether the payment compensates for lost principal or represents punitive damages. Consult a tax professional once any recovery becomes available. No payment is imminent at this stage.

Why did the token supply expand 33% during the October 2025 migration? 

According to the complaint filed in the Southern District of New York, Pasternak and the Believe Foundation forced all token holders to migrate from $LAUNCHCOIN to $BELIEVE. The complaint alleges the migration inflated total supply by 33%, routed approximately 25% of new tokens to insiders, and permanently zeroed out any holdings not migrated within the two-week window.

What is the “flywheel buyback” that was promised?

 The complaint alleges Pasternak made at least 12 separate public statements promising a buyback mechanism that would use platform fees to purchase tokens and support the price. According to the lawsuit, those buybacks never materially happened — even as the $LAUNCHCOIN price declined over 99% from its peak.

Can I contact the court directly?

 Yes. The case is pending in the U.S. District Court for the Southern District of New York. Public filings are accessible via PACER at pacer.gov. Search for Lee v. Pasternak filed March 23, 2026.

Sources & References

• Burwick Law official filing announcement via X (@BurwickLaw): https://x.com/BurwickLaw/status/2036408115088756760
• PACER / U.S. District Court, Southern District of New York: https://pacer.gov

Prepared by the AllAboutLawyer.com Editorial Team and reviewed for factual accuracy against the Burwick Law complaint filing and official court records on April 23, 2026. Last Updated: April 23, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.