Pump.fun accounts and its founder face blocking on X
On Monday, social media platform X suspended the accounts of memecoin platform Pump.fun, its co-founder Alon Cohen, and at least 19 other crypto-related accounts without offering a specific reason.
Affected users included popular names like GMGN, BullX, Bloom Trading, and Eliza OS. The only message displayed was X’s standard notification that the accounts had violated platform rules, reports Cointelegraph.
Given X’s prominence as a communication channel in the crypto space, these suspensions have left many projects temporarily disconnected from their communities. Pump.fun and the other platforms have not yet received formal explanations, prompting frustration and speculation. X has also not issued a public statement in response to requests for clarification.
API Violations Suspected as Trigger for Enforcement
Many users have speculated that the suspensions may be tied to violations of X’s policy regarding third-party APIs. Since early 2023, X has banned the use of external APIs that bypass its in-house subscription service, which costs $60,000 annually for startups. Reports suggest that several affected platforms may have used alternative APIs to manage their posts and communications more affordably.
GMGN confirmed that it is “actively appealing” the suspension and remains in contact with X to expedite account restoration. While some believe technical infractions are to blame, others suspect mass reporting campaigns might have triggered the bans. Without transparency from X, the true cause of the coordinated suspensions remains uncertain.
Legal Woes Deepen for Pump.fun Amid Platform Shutdown
The incident adds to ongoing legal troubles for Pump.fun, which is currently facing a class-action lawsuit filed in January 2025. The lawsuit accuses the platform of enabling pump-and-dump schemes by making it too easy to launch speculative memecoins with no intrinsic value. Plaintiffs claim that each token issued via Pump.fun constitutes an unregistered security and allege the platform earned nearly $500 million in fees.
Critics argue that Pump.fun’s model contributes to market manipulation and retail investor losses, reinforcing regulatory scrutiny. The timing of the X suspension has fueled concerns that the platform is now battling reputational damage on multiple fronts. If the suspensions persist and legal pressure mounts, Pump.fun’s ability to operate as a memecoin launchpad may face serious limitations.
Recently we wrote that a former executive of the TON Foundation, Justin Hyun, has launched Affluent, a cryptocurrency investment platform built on The Open Network (TON) and designed to operate seamlessly through Telegram.
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