SOCIAL MEDIA PLATFORM X SUSPENDS CRYPTO ACCOUNTS
Crypto-related accounts significantly impacted after sudden suspension.
Social media platform X suspended the accounts of crypto memecoin platform Pump.fun and its co-founder, Alon Cohen, without explanation other than citing violations of X Rules. Dozens of crypto-associated accounts were reportedly affected by the action taken on Monday. An X user, “Otto“, compiled a list detailing suspensions affecting at least 19 other accounts linked to trading platforms GMGN, BullX, Bloom Trading, and AI agent tool Eliza OS.
GMGN ACTIVELY APPEALING DECISION
GMGN confirmed its awareness of the X suspension via Telegram, stating it is “actively appealing the decision and working to restore the account.” The platform emphasized it remains in communication with X.
API USE SPECULATED AS REASON
Multiple users speculate suspensions resulted from the use of third-party Application Programming Interfaces (APIs). X banned such APIs in January 2023. Some suggest affected platforms used these external services to avoid the steep cost of X’s in-house API subscription, which starts at $60,000 per year for startup tiers.
X declined immediate comment; Pump.fun was contacted for availability.
PUMP.FUN FACE LEGAL ACTIONS
The platform suspensions come amidst legal challenges. While someone representing Pump.fun dismissed the notion of coordinated reporting against them, citing “mass reporting bs [bullshit],” the platform itself faces controversy. A January class-action lawsuit accused Pump.fun of facilitating pump-and-dump schemes, alleging it generated nearly $500 million in fees from unregistered security tokens it purported to launch.
