X Suspends Multiple Crypto Platform Accounts, Including Pump.fun

Crypto circles were stirred on Monday as the social media platform X suspended several high-profile accounts linked to blockchain projects, including those of memecoin launchpad Pump.fun and its co-founder Alon Cohen. While X offered no official explanation, users were met with the generic notice that the accounts had violated “X Rules.”

A growing list compiled by X user “Otto” shows that at least 19 other accounts tied to crypto platforms such as GMGN, BullX, Bloom Trading, and AI-driven agent tool Eliza OS were also taken down. 

With X long serving as the go-to platform for crypto communities, these suspensions have raised concern about how decentralized projects can stay connected with their users.

GMGN acknowledged the takedown in a Telegram message, assuring users that the team is “actively appealing the decision and working to restore the account as soon as possible.” The company also noted it was in close contact with X to expedite the reinstatement process.

API Workarounds May Have Prompted Suspensions

Although X has not confirmed any specific reason for the suspensions, speculation within the crypto community points to potential violations involving the use of third-party application programming interfaces (APIs).

Since January 2023, X has prohibited the use of unauthorized APIs, which many platforms had previously relied on to automate posts and community engagement. Users believe the affected crypto firms may have used external APIs to avoid the steep costs associated with X’s official API access—reportedly starting at $60,000 per year for startups.

No official link has been established between the API policy and the recent account bans, but the speculation has intensified amid growing frustration in the community over the lack of transparency.

Pump.Fun Faces Legal Troubles

The controversy around Pump.fun further adds troubles. While some users, such as X marketer “Braden,” claim the ban was the result of coordinated mass reporting, the platform has already been under scrutiny for its role in facilitating the creation of memecoins—tokens often criticized for their lack of intrinsic value.

In January, a class-action lawsuit alleged that Pump.fun was complicit in enabling pump-and-dump schemes, arguing that the tokens it launched were effectively unregistered securities. The suit claimed the platform earned nearly $500 million in fees from these launches.