On June 16, 2025, the cryptocurrency community was stirred when the official X account of Pump.fun (@pumpdotfun) and the personal account of founder Alon Cohen (@a1lon9) were unexpectedly suspended by the X platform. Not stopping there, a series of accounts related to other memecoin projects such as @gmgnai, @haze0x, @BloomTrading, @bullx_io, and @ElizaOS were also locked simultaneously. When accessed, these accounts displayed the message “user not found,” indicating that they had been temporarily locked or completely deleted.
Pump.fun: The Controversial Memecoin Platform
Launched in January 2024 on the Solana blockchain, Pump.fun quickly became a phenomenon by allowing users to easily create and trade memecoins without programming skills. With revenue exceeding $500 million as of May 2025 and attracting tens of thousands of users, the platform was valued at up to $4 billion in its plan to raise $1 billion through a token sale.
However, Pump.fun has not been without criticism. A report from Solidus Labs revealed that 98.6% of tokens on this platform showed signs of involvement in fraudulent activities such as pump-and-dump schemes or rug pulls. These controversies have made Pump.fun the center of attention, both positively and negatively.
Related: Nearly 99% of tokens on Pump.fun are Rug Pull or Pump-Dump
Reasons for Account Suspension
The community is actively discussing two main theories regarding the account suspensions:
- Violation of X’s API Policy: Many sources suggest that Pump.fun and related accounts used unapproved APIs to collect data or automate activities on X, violating the terms of service. Tools like Pump.fun, GMGN, or BullX often use bots to track tweets or cryptocurrency wallets, and some may have abused “black market” APIs.
- Legal Investigation or Court Order: Some posts on X speculate that these accounts were locked due to involvement in a court order, with allegations that Pump.fun and other memecoin platforms supported pump-and-dump activities or developed illegal tokens.
This incident not only affects Pump.fun but also raises significant questions about the sustainability of the memecoin market. Is this the beginning of a “cleansing” of non-transparent projects, or just a temporary incident? The cryptocurrency community is awaiting official information from X and related parties to clarify the situation.
Updates will continue as new developments arise.
