Catenaa, Tuesday, June 17, 2025-The social media platform X has suspended the official accounts of pump.fun, a prominent Solana-based memecoin launchpad, and its founder Alon Cohen, in what appears to be part of a broader crackdown targeting memecoin services.
As of Monday night, the handles “pumpdotfun” and Cohen’s personal account “a1lon9” were no longer accessible on X, with platform notices indicating violations of community rules.
The bans came alongside similar actions against other crypto-linked accounts, including those affiliated with GMGN, Bloom Trading and BullX.
While X has not publicly disclosed the reasons for the mass suspensions, the move has ignited speculation of potential regulatory pressure or internal policy shifts, especially concerning platforms accused of promoting pump-and-dump schemes.
Pump.fun, which remains operational despite the suspensions, is a central player in the recent surge of memecoins built on the Solana blockchain. The platform has also drawn criticism for allegedly enabling scam coins and unregulated securities offerings.
In January, pump.fun faced a proposed class-action lawsuit accusing it of facilitating the sale of high-risk, unregistered securities and amassing nearly $500 million in fees. The controversy intensified this month following reports of its planned $1 billion token sale at a projected $4 billion valuation, raising fresh questions about transparency and compliance.
The lack of clarity from X and pump.fun has further fueled concerns that a broader crackdown on memecoin-related activity could be underway, though no official enforcement agency has confirmed involvement.
