X Suspends Pump.fun and Several Crypto Accounts Without Explanation

Highlights:

• X suspends Pump.fun and co-founder’s accounts which sparks concerns in the Solana meme coin space.
• At least 19 other crypto-related accounts were removed, raising speculation about API violations.
• Pump.fun faces legal troubles and token launch uncertainty after regulatory scrutiny and lawsuits.

On Monday, social media platform X took down the accounts of Pump.fun, a Solana-based memecoin launchpad, along with its co-founder, Alon Cohen. The platform did not provide any specific reason, only displaying a standard message that the accounts were suspended for violating X Rules. 

X Crackdown Sparks Fears in Solana Meme Coin Space

X user “Otto” shared a list showing that at least 19 more accounts linked to memecoin-related crypto platforms and affiliated services including GMGN, BullX, Bloom Trading, and the AI tool Eliza OS were also removed. Pump.fun and the other affected websites are still working, but the ban has raised growing concerns about the recent memecoin hype.

IT'S NOT JUST PUMP FUN! 🚨

Major CT suspensions (Ongoing Tracker)

Here's what we’ve got so far 👇🏼

GMGN-Linked Accounts@gmgnai @haze0x — Founder@arthur_gmgn — Co-founder@Ga__ke — Affiliate (?)@brc20niubi — Affiliate@Wolfy_XBT — Affiliate@0xcryptowizard — Affiliate… pic.twitter.com/u5WbYP3rJD

— Øtto⚡️ (@0xottoman) June 16, 2025

Some users said the suspended platforms may have used outside APIs to get X data without paying. X’s own API tool costs around $60,000 a year for startups, which these platforms may have tried to avoid. But even with all the talk, no one knows the real reason for the suspensions yet. GMGN shared on Telegram that it is aware of its X account being suspended and is actively working on an appeal to restore access as soon as possible. The team also said it is talking with X to fix the issue quickly. 

Some people shared a fake post online that claimed the SEC is looking into Pump.fun, but the SEC has not said anything official. Others supported the bans, saying the Solana meme coin space has too many rug pulls, no rules, and risky ways of promoting projects.

Pump.fun Faces Trouble Ahead of Token Launch

Braden, an X user who says he manages marketing for Pump.fun, suggested in a post that the suspension likely happened because of mass reporting by users.

probably the mass reporting bs lol

— Braden (@bradenbt) June 16, 2025

Earlier this year, regulators sued Pump.fun for breaking securities laws. The lawsuit claimed the platform sold unregistered securities as meme tokens and collected nearly $500 million in fees by promoting risky memecoins. Authorities had already pressured Pump.fun to sell the PNUT token, which they saw as an unregistered security.

The platform also faced heavy criticism for live streams that showed disturbing events. During live streams promoting meme coins on platforms like Pump.fun, some individuals have made disturbing threats, including harming others, hurting themselves, or even ending their lives if their tokens didn’t reach certain market caps.

Pumpfun has come under fire for users allegedly broadcasting harmful and violent behavior through its livestream feature. Some users threatened to commit self-harm, violence, and even shootings if their tokens did not reach market cap targets. Pumpfun said it has arranged for a…

— Wu Blockchain (@WuBlockchain) November 25, 2024

Pump.fun recently revealed plans to raise $1 billion through a token sale, aiming for a $4 billion valuation. The crypto community expected the token to launch sometime in June. After the suspension of its X account, some users worried it could harm the project’s launch, as the platform used X as its main way to reach followers.