Social media giant X suspended Pump.fun's official account and co-founder Alon Cohen's personal profile on June 16.

The crypto community is questioning why platforms like Pump.fun, which have become particularly popular on the Solana (SOL) network, are being targeted by X. The accounts of well-known names in the memecoin sector, such as GMGN, Bloom Trading, BullX, and ElizaOS, have also been suspended, and the lack of any official statement from platform officials is fueling speculation.

Among the allegations raised are unauthorized live streaming and API exploitation, while some users interpret this move as a precaution against pump-and-dump (price manipulation) mechanisms or as a sign of an early-stage investigation initiated by the U.S. Securities and Exchange Commission (SEC). However, official sources have yet to confirm these theories.

The Pump.fun team had previously been forced to completely disable the live streaming feature in November due to unsafe live streaming content. This content included a wide range of dangerous material, from threats of violence to inappropriate demonstrations.

For now, the platform's website remains active, and Solana meme coin production is continuing uninterrupted. The suspension of accounts raises questions about whether it is a harbinger of extensive legal oversight in the crypto market or merely a step towards the platform's internal policy.