17.06.2025 07:17

On June 16th, a surprising wave of account suspensions swept across the social media platform X, previously known as Twitter, impacting numerous prominent cryptocurrency projects. This unexpected crackdown targeted several major players in the memecoin and Web3 spaces, leaving many users and businesses scrambling to adapt.

Among the high-profile casualties were PumpFun, a platform facilitating memecoin launches; BullX and GMGN, popular Web3 trading tools; and others such as ElizaOS and Bloom Trading. The suspensions were not limited to official project accounts; according to crypto analyst Patel, personal accounts belonging to team members and founders were also removed, suggesting a deliberate and coordinated effort by X.

This mass suspension, occurring without prior warning or explanation from X, has created significant disruption within the cryptocurrency community. Many projects, including PumpFun, which was reportedly on the verge of launching a substantial $1 billion token, were left suddenly unable to communicate effectively with their users. X's platform had previously served as a crucial communication channel for these projects, facilitating updates, announcements, and community engagement.

The lack of transparency from X regarding the reasons for these suspensions has fueled uncertainty and speculation. Projects are now relying on alternative communication channels such as Telegram and their own websites to maintain contact with their user base, a significant inconvenience given the reach and immediacy provided by X. The incident underscores the precarious reliance that cryptocurrency projects place on centralized social media platforms and highlights the potential vulnerability of their communication strategies. Further complicating matters for PumpFun, a former team member was recently arrested in the UK for allegedly stealing $1.9 million worth of SOL tokens.