X Suspends Pump.fun Accounts Just Before PUMP Token Sale Launch

Looks like Pump.fun has hit a bit of a roadblock right before its big moment. Just as the platform was gearing up to raise a cool $1 billion through initial sales of its PUMP token, X decides to hit the brakes and suspend their account. Timing, right? And with over 457,000 followers, that X account was crucial for their launch. Talk about bad luck.

But don’t worry, it’s not all doom and gloom. While the social media blackout is definitely a setback, Pump.fun’s website is still running smoothly. The site, which lets users create and trade meme coins on the Solana blockchain, continues its operation without missing a beat. So, at least there’s that.

Is the Suspension Linked to Unauthorized API Use?

Here’s where things get interesting. Along with Pump.fun, other platforms like GMGN, Bloom Trading, BullX, and the AI platform Eliza OS, along with founder Shaw Walters’ accounts, also got the axe. What’s going on here? Some crypto enthusiasts are speculating that the suspensions could be tied to unauthorized API usage. Yup, rumors are flying that Pump.fun and its pals might have used an API they didn’t pay for, and well, that didn’t sit well with X.

One user put it bluntly:

“End of an era. Pump.fun and its founder, Alon, were suspended on X. This space is healing. Rumors say they used an API they didn’t pay for. Many other accounts tied to that API were banned.”

Ouch. Looks like the crypto community is holding its breath, waiting for some clarification.

Fake SEC Probe and Legal Drama

Now, if that wasn’t enough, there’s also a fake post making the rounds claiming the SEC is investigating Pump.fun. However, the SEC hasn’t made anything official, so let’s not panic just yet.

On top of all this, Pump.fun is already facing a class action lawsuit. In January 2025, plaintiff Diego Aguilar accused them of securities law violations, claiming the platform raked in almost $500 million from unregistered token sales. So yeah, they’ve got some legal drama going on as well.

The Waiting Game Continues

For now, it’s all just a game of “who said what.” X hasn’t confirmed why the accounts were suspended, but GMGN did acknowledge their suspension on Telegram, reassuring users that they’re appealing the decision and working to get their account back.

So, what does all this mean for Pump.fun and its highly anticipated PUMP airdrop? Well, that depends on how they handle the PR and legal drama. If they manage to pull through this setback, they might still keep the crypto community’s trust intact. But until we hear something official, the crypto world remains on edge, waiting for answers.

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