X Suspends Dozens of Memecoin Accounts, Including Pumpfun’s – Crypto News – Crypto News
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X Suspends Dozens of Memecoin Accounts, Including Pumpfun’s X Suspends Dozens of Memecoin Accounts, Including Pumpfun’s

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X Suspends Dozens of Memecoin Accounts, Including Pumpfun’s – Crypto News

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3 months ago

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Over 20 memecoin-related accounts were suspended on X with “no official information,” in what some suspect may be linked to unauthorized API use.

Social media platform X (formerly known as Twitter) suspended pumpfun’s official profile — the largest memecoin launchpad, which has generated nearly $700 million since its inception — together with dozens of other crypto and specifically memecoin-related accounts without any notice on Monday.

Pumpfun’s X account | Source: X

Pumpfun’s official account was suspended along with that of its co-founder, Alon Cohen, and at least 19 other crypto-related profiles on X. The crackdown also seems to have targeted accounts linked to other memecoin launchpads and crypto trading tools such as ElizaOS, GMGN, Bloom Trading, and BullX.

The reason behind the widespread suspension remains unclear thus far. “No official information has been released,” a representative from one affected platform, who wished to remain anonymous, told The Defiant, adding that they have already contacted X to resolve the issue.

The Defiant also reached out to X, but received no response by publication time.

Some in the crypto community speculate the sudden wave of suspended accounts could be linked to past misuse of livestream features or API violations.

The founder of open-source academy for developers WTF Academy, who uses the handle @0xAA_Science, pointed out in an X post that pumpfun was using a tool called “Twitter Tracker” to monitor posts, profile changes, and follows.

the-defiant

As @0xAA_Science speculated, the tool likely relied on an “unofficial API,” which could have led to pumpfun’s suspension. It’s unclear if other suspended accounts also tried to bypass X’s paid API plans.

Since Elon Musk took over X, the platform has severely tightened access to its API by cutting off most free access in early 2023. Now, the platform is charging from $200 up to $42,000 a month, depending on usage and access level.

Pumpfun’s X suspension comes just a few days after analysts at market intelligence firm Messari projected that the platform’s reportedly upcoming token sale could be valued around $7 billion or more. Messari analyst Sunny Shi described pumpfun as “the most profitable crypto application of all time,” adding further that the platform could generate as much as $675 million in revenue by 2027.

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