The social network X, which previously operated under the name Twitter, has blocked the accounts of the meme coin platform pump.fun and its co-founder Alon Cohen. The administration did not disclose the reasons for this decision, limiting itself to a general statement about violations of community guidelines. Accounts of projects GMGN, BullX, Bloom Trading, Eliza OS, and several other cryptocurrency initiatives have also been affected by the block.
This is reported by Finway
Mass Blocking of Cryptocurrency Accounts on X
In total, at least 20 accounts related to the cryptocurrency sector have been blocked. This has led to a number of assumptions within the community: some users believe that the cause may have been a massive influx of complaints about the accounts, while others suspect violations of API usage policies, as several platforms may have been using third-party applications to bypass the official tools of the social network.
One opinion expressed in discussions: “The reason for the blocking of many X accounts (including ai16z, pump, and others) is almost 100% likely due to the use of third-party applications to avoid paying for the official API. The official API can be expensive, but it guarantees user security. This gives everyone peace of mind…”
Some market participants suggest that the blocking of pump.fun may be related to criticism of the platform regarding the distribution of tokens with signs of Pump and Dump schemes. Others see the reason in the use of prohibited third-party tools for working with the social network.
Community Reaction and Subsequent Events
A user with the pseudonym bradenbt, who is likely involved in the marketing activities of pump.fun, expressed the opinion that the blocking could have been caused by mass complaints. In one of his posts, he noted that “it seems everything is over,” and also asked if anyone was willing to offer him a job. However, most members of the X community perceived these statements as humorous, as the pump.fun platform continues to operate despite losing its main communication channels on the social network.
The GMGN project, like other companies whose accounts were blocked, has already announced its intention to contest the decision of the X administration. Representatives of pump.fun have yet to comment on the situation.
Meanwhile, according to media reports, the pump.fun team is actively preparing to launch its own token. A token sale is planned for $1 billion with a fully diluted valuation (FDV) of $4 billion. Analysts note that the blocking of accounts on X could pose a serious challenge for the team amid preparations for a large-scale launch.
Additionally, it is noted that in January 2025, a class-action lawsuit was filed against pump.fun, claiming the sale of unregistered securities amounting to approximately $500 million. The plaintiffs stated that the platform primarily collaborates with influencers, and its activities encompass “innovative types of Ponzi schemes and Pump and Dump.”
Among other news about pump.fun – in June 2025, it became known that 93 out of 100 top wallets on the platform turned out to be bots, which only intensified discussions around the transparency and security of the project.