TLDR
- Major crypto projects including PumpFun, BullX, and GMGN suddenly suspended on X on June 16
- Both official and personal accounts of crypto team members targeted in coordinated takedown
- Projects now rely on Telegram and websites for communication after X bans
- PumpFun was preparing a $1 billion token launch when suspensions occurred
- A former PumpFun team member was arrested in the UK for allegedly stealing $1.9M in SOL tokens
In an unexpected move that has shaken the cryptocurrency community, social media platform X has suspended multiple high-profile crypto accounts without warning. The mass purge, which occurred on June 16, targeted several popular platforms that facilitate memecoin trading and Web3 services.
The suspension wave affected major crypto trading platforms that have built substantial followings. PumpFun, known for enabling memecoin launches, found its official account suddenly inaccessible. Other affected projects include BullX, GMGN, ElizaOS, and Bloom Trading.
The timing couldn’t have been worse for PumpFun, which was reportedly preparing for a massive $1 billion token launch. Founder Alon Cohen’s personal account was also removed just as the project was gearing up for its highly anticipated PUMP token sale.
Crypto analyst Patel noted that the purge extended beyond official accounts to include personal profiles belonging to team members and founders. This broader targeting suggests X implemented a systematic approach rather than isolated suspensions.
X has yet to provide any official explanation for these actions, leaving affected communities and users in limbo. Without formal communication, speculation has emerged about possible violations involving unauthorized APIs, spam, or regulatory concerns.
Communication Challenges
The sudden suspensions have severely limited these projects’ ability to communicate with their communities. X serves as a primary channel for crypto projects to share updates, announce new features, and engage with users.
Without access to their established social media presence, these platforms cannot easily reach their audiences or provide crucial information about their services. This disruption comes at a critical time for many of these projects.
Shaw Walters, another crypto founder caught in the purge, now faces similar challenges in maintaining connection with followers. The removal of communication channels threatens ongoing development efforts and user engagement.
Most affected projects maintain active presences on alternative platforms. Their websites remain operational, and Telegram groups continue functioning normally. This allows users to access services and receive updates, though the reach differs from X’s broader audience.
Market Response and Misinformation
In an unexpected market reaction, suspension-themed memecoins surged following the news. At least five such tokens registered among the day’s top ten on DEX Screener, collectively moving over $10 million in trading volume in just one hour.
Misinformation has emerged alongside the legitimate suspensions, creating additional confusion. False rumors began circulating that PumpFun’s founder was arrested in New York City, with claims that courts had ordered the website’s shutdown.
These reports proved completely inaccurate. The reality involves a different legal situation entirely. A former PumpFun team member was indeed arrested, but this occurred in the United Kingdom rather than the United States.
This individual allegedly stole approximately $1.9 million worth of SOL tokens from the platform. The arrest relates to internal theft rather than regulatory action against the company itself.
GMGN co-founder Haze posted on Telegram that “the reason for the suspension remains unclear,” as teams from all impacted entities scramble to get clarity from X. The lack of transparency has left project leaders searching for answers.
The crypto community awaits further information from X regarding these account suspensions. With the PUMP token sale on the horizon and revenues tied to social media presence, affected projects face an uncertain path forward.
Without clear policy guidance from the platform, similar disruptions could become more common in the crypto space, complicating how digital asset launchpads build and maintain their audience.
As of this writing, X has not responded to requests for comment on the account suspensions.
