๐ What Happened?
The official X (Twitter) account of Pumpfun, one of the most popular meme coin launch platforms, was suddenly banned on June 12.
Not only that, but its founderโs account and several other meme-related accounts were also taken down.
This sparked huge panic and rumors across the crypto community.
๐ Why Did It Happen?
There are 3 main theories being discussed online:
๐จViolation of Twitter's API Rules
Pumpfun allegedly used bots to track tweets and wallets, without paying for Twitter's official API (which costs $42,000/month).
This is believed to be the most likely reason for the ban. Twitter has been cracking down hard on illegal data scraping.
๐จFake News Flood
Rumors spread quickly:
Fake screenshot showing SEC targeting Pumpfun
Fake claim the founder was arrested
Claims of terrorist financing involvement
These stories were not true but caused massive confusion.
๐จLegal Pressure
Some law firms even started ads offering to help users sue Pumpfun for their losses, suggesting possible legal trouble related to the platform's launch model.
๐ฅ Why It Matters
Pumpfun isnโt just any project:
๐ธ $700M revenue since early 2024
๐ฑ $384M in SOL tokens transferred to Kraken
โ ๏ธ Accused of market manipulation, bot launches, and insider trading
Many retail users lost money, while insiders and whales allegedly made huge profits.
The community feels that Pumpfunโs model became unfair and greedy.
๐ง What the Crypto Community Is Saying
โก๏ธ Some are happy it got banned, believing the meme coin market needs a reset.
โก๏ธ Others say this shows the dangers of being too public as a meme coin creator or trader.
One viral post said:
โOnce Pumpfun falls, the bull market begins.โ
โ ๏ธ The Bigger Picture
โ X (Twitter) is now actively banning crypto projects they think violate rules.
โ Pumpfunโs trust is damaged โ and its June 21 token launch (TGE) may be canceled.
โ New meme launch platforms like Four.Meme, LetsBonk.Fun, and Believe are now getting more attention.
๐งฉ Key Takeaways
Pumpfunโs ban is likely due to unauthorized bot activity and API abuse, not legal charges (yet).
The platform made massive profits, but retail users kept losing โ leading to resentment.
Trust in meme coin platforms is dropping, and regulation or stricter platform policies may follow.
