X (formerly "Twitter") blocked the accounts of the meme coin generation platform Pump.fun and its founder Alon Cohen just before the launch of the PUMP token.
Not only Pump.fun and its creator were blocked, but also 19 other profiles related to cryptocurrencies. We are figuring out what is happening on X.
X blocked the Pump.fun account
The key channel for Pump.fun to interact with the community was the social network X — around 500,000 users are subscribed to the platform's profile. Recently, the team behind the meme coin generator announced plans to raise $1 billion through the initial sale of the PUMP token. The blocking of the Pump.fun X account may negatively impact the launch of the new coin.
In addition to Pump.fun, X also blocked the profiles of GMGN, Bloom Trading, BullX, and Eliza OS. The account of the founder of the meme coin platform was also restricted. The social network's team did not specify why such measures were taken. The blocked pages only state that their creators violated the platform's rules. Users are actively discussing what exactly caused the blocking.
"The end of an era. Pump.fun and its founder Alon have been blocked on X. According to rumors, they used an API for which they did not pay. Many other accounts associated with this API have also been banned," wrote one user.
There is information circulating online that the U.S. Securities and Exchange Commission (SEC) is investigating Pump.fun. However, the regulator has not officially confirmed this.
In January of this year, a lawsuit was filed against Pump.fun. The plaintiff, Diego Aguilar, accused the platform of violating securities laws and receiving nearly $500 million in commissions from unregistered token sales.
It is still unclear what the main reason for the blocking of Pump.fun and other crypto projects' accounts was. The GMGN team wrote the following in their Telegram channel:
"We noticed that the official GMGN account on X was temporarily blocked. We are already filing an appeal and working on restoring the profile."
