The social network X, formerly known as Twitter, has blocked the accounts of the popular meme coin platform pump.fun and its co-founder Alon Cohen. The reasons for this action have not been officially announced by the platform’s administration, which only provided a standard message regarding violations of service usage rules.
This is reported by Business • Media
Mass Account Blocking and the Crypto Community’s Reaction
In addition to pump.fun, X has suspended at least 20 other cryptocurrency accounts, including GMGN, BullX, Bloom Trading, Eliza OS, and other projects. This has caused significant resonance within the crypto enthusiast community.
“Some users believe that the blocking of pump.fun may be related to criticism concerning the distribution of tokens resembling Pump and Dump schemes. Others think that the restrictions were imposed on the platform due to the use of third-party API tools that are prohibited by the social network.”
Some X users suspect that the mass blocking resulted from violations of API usage policies or a large number of complaints against the accounts. In particular, a user under the nickname bradenbt, who is likely involved in marketing for pump.fun, suggested that the platform might have been blocked due to a wave of complaints, stating: “it seems like it’s all over.”
The Impact of the Blocking on the Platform’s Operations
Despite the blocking of the main accounts on X, the pump.fun platform continues to operate. Most representatives of the crypto community perceived statements about a “cessation” of activities as a joke; however, the loss of access to the main communication channel remains a significant challenge for the team.
Representatives of other projects, including GMGN, have already announced their intention to contest the decision made by X’s administration. Other blocked initiatives share a similar stance.
Analysts note that the account blocking occurred against the backdrop of pump.fun preparing to launch its own token. According to available information, the platform plans a token sale with a total valuation of $1 billion and a fully diluted valuation (FDV) of $4 billion. In this context, restrictions from X could significantly impact the project’s future activities.
Additionally, in January 2025, a class-action lawsuit was filed against pump.fun, accusing it of selling unregistered securities worth approximately $500 million. The plaintiffs claim that the project actively collaborates with influencers and is suspected of implementing “innovative” Ponzi and Pump and Dump schemes.
It was previously reported that 93 out of the 100 largest wallets on the pump.fun platform turned out to be bots, which also raised questions about the transparency of the service’s operations.