Pumpfun's official Twitter suddenly suspended, retail investors applauding?
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Pumpfun's official Twitter suddenly suspended, retail investors applauding?
The world has long suffered under Pumpfun.
Navigating Web3 tides with focused insightsBy Bright, Foresight News
Following the large-scale account suspensions on X (formerly Twitter) on June 12, which affected numerous official Meme project accounts (such as GMGN and ElizaOS team) and key opinion leaders (KOLs), Pumpfun—the most popular and profitable Meme token launch platform of 2024–2025—has now also had its official account and that of its founder Alon suspended.
Rumors Run Wild
Immediately, speculation exploded online. Edited images and fake news spread virally across X. First came a widely shared image claiming that the U.S. SEC was regulating Pumpfun. Though the top-left corner clearly states "This is a joke," and the hashtag #InvestSmart adds heavy irony, the official-looking format fooled many domestic and international users, prompting rapid resharing.
Next came a report from individual account db @tier10k claiming that “Pumpfun’s founder was arrested in New York.” Upon verification, this screenshot—which didn’t even fully capture the comment section—was also fabricated.
Beyond outright hoaxes, the prevailing rumor spreading fastest across communities is that Pumpfun may be facing legal action and regulatory scrutiny. Reports suggest anyone using Pumpfun to pump-and-dump tokens could face legal liability.
Overseas law firms quickly seized the moment, advertising services for clients who lost money on Pumpfun seeking compensation.
In fact, multiple class-action lawsuits against Pumpfun and its members were already filed in North America as early as January 2025. However, this latest wave of suspensions appears fundamentally different from the June 12 purge, which cited reasons related to inauthentic or fake accounts.
Some community members speculate that Pumpfun may have seriously violated API usage policies. X is reportedly cracking down hard on unauthorized data acquisition from the so-called “black market.” It's believed Pumpfun used Twitter trackers and snipers—tools capable of rapidly monitoring tweets or wallets—that did not source data through legitimate channels from X. This kind of unauthorized data scraping is seen as encroaching on X’s business model, especially since X charges enterprise clients up to $42,000 per month for official API access. Unauthorized crawling likely breaches platform terms of service and constitutes improper system use or resource abuse.
Another circulating theory suggests Pumpfun may have been linked to supporting terrorist financing activities. Whether this will impact Pumpfun’s scheduled TGE on June 21 remains unclear.
It should be emphasized that the suspension situation is still evolving amid intense public speculation, and facts remain unconfirmed. However, X’s increasing crackdown on accounts promoting cryptocurrency platforms and market data should serve as a warning to all crypto industry participants.
Crypto Has Had Enough of Pumpfun
Yet amidst this flood of FUD, voices on X have emerged declaring: “Once Pumpfun falls, the bull market begins.”
According to Onchain Lens monitoring, since 2025, Pumpfun has transferred a total of 2.344 million SOL to Kraken exchange, valued at approximately $384 million. The strong correlation between these transfers and short-term drops in SOL price has fueled widespread suspicion of Pumpfun dumping profits en masse.
Since launching in Q1 2024, Pumpfun has generated $700 million in revenue thanks to its 1% trading fee and bonding curve mechanism, making it one of the most profitable projects in the crypto economy. Recently, it announced a $1 billion fundraising round for its TGE. Yet ordinary investors continue to suffer mounting losses, while systemic risks like market-manipulating bots and insider trading grow unchecked. What was once a simple community culture has mutated into a complex “meme coin industry,” causing the current meme speculation frenzy to lose its former vitality.
Even more concerning, Pumpfun launched what would be the third-largest funding round in crypto history—targeting users who are already losing money—without clearly disclosing how the funds would be used, showing blatant disregard for its community. After February 2025, Pumpfun’s revenue “collapsed” dramatically, failing to produce a single new meme project with over $1 million market cap for consecutive days. Meanwhile, new meme launch platforms continue to emerge—whether Four.meme on BSC early in the year, or subsequent platforms like LetsBonk.Fun and Believe—all challenging Pumpfun’s dominance and siphoning off its user traffic.
Severe fragmentation of capital and attention, coupled with rampant insider dealings and conspiracies, has increasingly eroded investor trust in meme coins, with much of the anger now directed squarely at Pumpfun.
After all, who wants to keep playing with someone who eats and then smashes the bowl? Pumpfun’s planned TGE may now carry even greater uncertainty.
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