Memecoin Account Suspension Scandal on X, What Happened?

Updated

June 18, 2025

Gambar Memecoin Account Suspension Scandal on X, What Happened?

Jakarta, Pintu News – On June 16, a surprise happened on social media platform X with the suspension of Pump.fun’s official account and co-founder Alon Cohen’s personal account. Not only that, several other memecoin-related platforms such as GMGN, Bloom Trading, BullX, ElizaOS, also suffered the same fate. These suspensions occurred without any official explanation from X, sparking widespread speculation regarding the implementation of internal policies or broader regulatory intervention.

Speculation on the Causes of Suspension

pump.fun revenue — Source: The Wealthy Mastery

The suspension sparked various theories among crypto users and observers. Some suspected that it was related to livestream or API abuse, pump-and-dump mechanisms, or even preliminary activity from the United States Securities and Exchange Commission (SEC).

However, to date, there has been no official confirmation or explanation from X or regulators regarding these allegations. Nonetheless, the Pump.fun website still remains active and continues to produce Solana based memecoins non-stop. This incident shows that despite the social media hiccups, their core operations are still running as usual.

Also Read: Bitcoin (BTC) Hits a New Low, What’s the Impact on the Market? (6/18/25)

Community and Market Impacts

The suspension of these accounts has had a significant impact on the user community and the memecoin market as a whole. The crypto community, especially memecoin enthusiasts and investors, felt the loss of an important channel of information and interaction.

It also raises concerns about the future of memecoin promotion and distribution on large platforms. On the other hand, it may also be a signal for market participants to be more careful in managing and selecting platforms for their crypto activities, given the potential regulatory risks and platform policies that could change at any time.

Reactions and Responses from Pump.fun

Despite facing a suspension on X, Pump.fun and its team don’t seem to have provided any official response or clarification regarding this situation. This adds to the uncertainty among users and investors about what strategy and steps Pump.fun will take next.

In November last year, Pump.fun experienced a similar issue when they had to disable their livestream feature due to unsafe content, which ranged from threats of violence to explicit acts. Such incidents may provide additional context to the challenges faced by platforms in maintaining compliance with content standards.

The suspension of Pump.fun’s account and others may be an important turning point in the way social media platforms manage crypto-related content and activities. It also marks the importance of transparency and communication between platforms like X and the crypto community to create a safe and conducive environment for all users.

Also Read: Global Tensions Heat Up, Crypto Takes a Hit: What Really Happened? (6/18/25)

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