Social media platform X has suspended the accounts of memecoin trading platform Pump.fun and its co-founder, Alon Cohen, as part of a broader crackdown that temporarily banned numerous crypto-related profiles.
As of Monday, both the Pump.fun and Cohen’s X accounts displayed suspension notices, with no specific explanation beyond X’s standard message: “X suspends accounts which violate the X Rules.”
At least 19 additional accounts tied to crypto trading platforms such as GMGN, BullX, Bloom Trading, and the AI-based agent tool Eliza OS were also taken offline, according to a compiled list shared by X user “Otto.”
X has long served as a central hub for the crypto community, and suspensions like these can seriously disrupt the affected platforms’ ability to engage with users and maintain visibility.
X did not immediately respond to a request for comment. Pump.fun was contacted for comment.
GMGN “Actively Challenging” X Account Suspension
GMGN acknowledged its X account suspension in a Telegram message, stating that it is “actively appealing the decision and working to restore the account as soon as possible.”
The platform also noted that it is “in close communication with X to expedite a resolution.”
Users Speculate X Suspensions Linked to API Usage
Meanwhile, several X users have speculated that the suspensions were triggered by the use of third-party application programming interfaces (APIs), which X officially banned in January 2023.
Some suggested that the affected platforms may have relied on external APIs to avoid the high costs of X’s official API service, which starts at $60,000 per year for its startup-tier subscription.
However, the exact reason behind the suspensions remains unconfirmed.
Pump.fun Faces Lawsuit Over Alleged Role in Pump-and-Dump Schemes
X user “Braden,” who claims to handle marketing for Pump.fun, suggested in a post that the platform’s suspension was likely due to “mass reporting bs [bullshit].”
Pump.fun has sparked controversy for simplifying the creation of memecoins—highly speculative digital assets with no inherent value.
In January, the platform was hit with a class-action lawsuit accusing it of facilitating pump-and-dump schemes. The suit alleges that every token launched through Pump.fun qualifies as an unregistered security and claims the platform generated nearly $500 million in fees from these creations.
