Viral meme illustrator threatens legal action against viral memecoin Chill Guy

Phillip Banks, illustrator responsible for the viral meme “Chill Guy,” has declared that he will take legal action against the Solana-based memecoin (SOL), Chill Guy (CHILLGUY). Banks claims he did not authorize the use of his work.

According to information published by Decrypt, Banks announced on his account on platform X that he registered his work with copyright. Therefore, it intends to combat unauthorized commercial uses.

“Putting this out there: Chill Guy has been copyrighted. Legally. I will be issuing takedown orders for for-profit related things in the coming days,” the illustrator wrote. Banks has since made her account on the platform private.

Chill Guy goes viral on social media and becomes a memecoin

Screenshots shared by other users indicate that Banks also intends to take action against the sale of merchandise and memecoin projects associated with his creation. Despite the legal threat, Crypto.com recently announced the listing of the CHILLGUY token. Meanwhile, exchange Gate.io launched memecoin trading as part of its “Pilot Section” program.

Gate.io highlighted the asset’s rapid growth:

“CHILLGUY was launched on Gate.io’s Pilot Section and has already risen 1065.01% in its first 24 hours! From a hit on TikTok to an explosive memecoin, CHILLGUY demonstrates the incredible potential of our platform's projects,” said the company.

However, the value of the token has fluctuated. After reaching its historic high of US$0.53 last Thursday (21), the price fell to US$0.35. It then recovered in parts to $0.41. The CHILLGUY memecoin is still up 21% in the last 24 hours, according to data from CoinGecko.

So far, those responsible for the CHILLGUY project have not issued an official statement regarding the accusations. However, a post on the official memecoin profile on platform X appears to indirectly reference the controversy. The post says: “Keep your crypto donations, I’ll enjoy my Xbox.”

The token was launched less than a week ago and is already facing challenges related to its legitimacy, showing the risks and volatility common in the memecoin market.

• Also read: Cryptocurrencies that could benefit from Bitcoin’s price explosion

CatSlap

Meanwhile, another memecoin – but without copyright controversy – has been attracting investor attention. This is the CatSlap cryptocurrency, which is in the pre-sale phase, with each token costing US$0.00211792.

The project presents itself as “the most aggressive feline in the crypto world, ready to attack even the largest market capitalization memecoins”.

“The SLAP token has arrived to dethrone the frogs and dogs on the block! This is the ultimate memecoin for stupid fun and friendly competition.”

In the project, ‘Slappers’ – memecoin holders – compete to achieve the highest scores. Buyers of $SLAP tokens can compete in an addictive and hilarious slapping game to earn the highest scores and increase their ranking.

• Read also: Children apply blow with memecoin, but community applies 'revenge pump'

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