Last night, around 20 accounts linked to crypto platforms such as Pump.fun and GMGN were suspended by X. What do we know about this case?
Numerous accounts linked to memecoins suspended on X, including Pump.fun
Last night on X, a large number of accounts linked to cryptocurrencies, and more specifically to memecoins, were suspended, the most famous being Pump.fun:
In addition to Pump.fun and its co-founder Alon Cohen, user X Øtto sought to compile a list of all those involved, including:
- The accounts of GMGN, its founders, and several people affiliated with the platform;
- The accounts of Bloom Trading and team members;
- Various other players, including ElizaOS and BullX.
In a message shared on Telegram, the GMGN teams communicated on the situation:
We have noticed that the official GMGN Twitter account has been temporarily suspended. Rest assured that we are actively appealing this decision and working to restore it as soon as possible. In the meantime, our activities continue uninterrupted. Our team is conducting a thorough investigation and remains in close contact with X to find a quick solution.”
At this time, the specific reasons for the suspension remain unclear.
However, various theories have been put forward, one of which keeps coming up, suggesting that all these platforms have in common the illegal use of an API connection with X. Failure to use the official API would result in a loss of revenue for the social network. However, this rumor should be treated with caution until official confirmation is available.
Among the more far-fetched explanations, tweets have even gone so far as to share false statements from the Securities and Exchange Commission (SEC), which is said to be monitoring Pump.fun’s activity. It should be noted that the financial regulator has not made any such statement at the time of writing.
