Solana-Based Pump.fun Among List of Crypto Trading Platforms Suspended from X
The X account of Solana-based meme coin launchpad Pump.fun was suspended, along with several other crypto accounts, without explanation. The affected accounts include trading tools like BullX and GMGN, and founders such as Alon Cohen and Shaw Walters. GMGN is appealing the suspension and maintaining operations while investigating the issue. BullX claimed its account was “mass reported” and faced scrutiny over a viral post about its closure. Speculation surrounds the suspensions, with some suggesting misuse of unofficial APIs or a fake SEC investigation post. Concerns about the Solana meme coin ecosystem include frequent rug pulls, lack of oversight, and dangerous promotional tactics, such as threats of self-harm during live streams. A developer staged a fake hanging, leading to Pump.fun banning promotional live streams.
