17.06.2025 04:43
A wave of unexpected account suspensions swept across X, impacting the Solana memecoin ecosystem significantly. The official Pump.fun account and the personal profile of its founder, Alon Cohen, were suddenly deactivated, along with numerous other accounts associated with the Solana memecoin space. The reason for these suspensions remains unexplained by X or any of the affected teams.
Initial reports surfaced around 7:30 p.m. UTC yesterday, when users encountered "user not found" errors attempting to access the Pump.fun account. An X user, Otto, promptly compiled a list highlighting the widespread nature of the suspensions, which encompassed prominent community figures like @gmgnai, @haze0x, and @arthur_gmgn, alongside several memecoin bots and influential accounts within the Solana community. Otto suggested an "internal enforcement sweep" by X, rather than a coordinated reporting effort, as the cause.
Many of the suspended accounts provided services such as automated trading tools, order routing, or marketing support for on-chain assets – activities that often skirt X's rules against platform manipulation and spam. This suggests the suspensions may be related to X’s policies concerning these activities.
The suspensions ignited a swift and opportunistic response within the Solana memecoin community. Within an hour, Pump.fun saw an influx of newly minted memecoins, ironically named after the banned accounts and referencing Cohen's alias. This opportunistic creation capitalized on the event's sudden notoriety and the community's reaction.
Data from DEX Screener at 8:22 p.m. UTC revealed the impact of this wave of new tokens. Five of these suspension-themed coins ranked amongst the top ten trending tokens that day, generating a combined trading volume exceeding $10.4 million within a short period. Furthermore, a substantial number—15 out of 31—of Solana memecoins that had completed Pump.fun's bonding-curve process and "graduated" were implicated in the suspensions. The incident highlights the volatility and responsiveness of the memecoin market and the potential consequences of operating near the edge of social media platform policies.
