The official X handle of Pump.fun and other affiliates have been suspended on the microblogging platform. Alongside the official account, accounts belonging to founder Alex Cohen also became inactive, with dozens of related accounts suffering the same fate. The platform or handlers behind the accounts are yet to give details into why it suspected the accounts.
Users first noticed the suspensions around 7:30 p.m. UTC yesterday, when attempts to load Pump.fun’s Twitter account returned a “user not found” error. X user known as Otto quickly put together a list showing that many popular handles in the Solana community had been suspended. Among them were @gmgnai, @haze0x, @arthur_gmgn, @BloomTrading, and @imBFFF00, as well as memecoin bots like @bullx_io and @ElizaOS.
According to Otto, the suspension might be a result of an internal enforcement sweep, rather than it being a result of a coordinated mass reporting campaign. Most of the frozen accounts offered services such as trading tools, automated order routing, or marketing support for on-chain assets, activities that often brush up against X’s policies on platform manipulation and spam.
Pump.fun suspension causes speculation
After the suspension became public knowledge, users started speculating, with most of them wondering if the suspension was tied to a potential sanction from the United States Securities and Exchange Commission (SEC). Despite the fears, the main platform of Pump.fun remains active. Pump.fun has already faced criticism for scam coins and pump-and-dump schemes.
Back in January, the platform faced a proposed class-action lawsuit accusing it of selling “highly volatile” unregistered securities and raking in nearly $500 million in fees. Earlier this month, reports surfaced that Pump.fun aims to raise $1 billion through a token sale at a $4 billion valuation, though details about that plan remain sparse.
About an hour after the suspensions, community members flooded Pump.fun with new memecoins named after the ban and referencing Cohen’s alias. These tokens aimed to capitalize on the sudden suspensions. According to DEX Screener data at 8:22 p.m. UTC, five of those suspension-themed coins ranked among the top ten tokens trending for the day. Together, they accounted for $10.4 million in trading volume during that period. About 15 tokens completed Pump.fun’s bonding-curve process, graduating in the hour following the ban.