Mass Suspensions Shake Solana Meme Coin Platforms on X

Earlier this week, X (formerly Twitter) rapidly suspended the accounts of more than 20 meme‑coin platforms, including major Solana-based launchpad Pump.fun, its co-founder Alon Cohen, and projects like GMGN, Bloom Trading, BullX, and ElizaOS platforms. The move, which came without advance warning or public explanation, stirred widespread speculation that X is now actively targeting disruptive crypto ecosystems.

The abrupt takedowns have been linked to several possible causes. Some analysts suggest violations of X’s API policy—possibly using unauthorized third-party APIs following a 2023 ban on free access. Others point to more serious concerns, including suspected liquidity‑harvesting schemes or “pump‑and‑dump” behavior. One X user highlighted unusual activity patterns—dubbed “yacht-shaped” wallet behavior—that coincided with the suspensions.

These accounts were suspended just days before Pump.fun’s planned $1 billion PUMP token sale—raising questions about whether X wanted to blunt pre-launch hype. Pump.fun’s own marketing team suggested that “mass reporting” by rivals could be behind the blackout. Meanwhile, GMGN confirmed it was appealing via Telegram, and ElizaOS remains offline as the situation evolves.

Despite the suspensions, the platforms themselves remain operational via their websites and other channels. Pump.fun briefly returned to X after about 24 hours—but several major platforms continue to be blocked. This illustrates the opaque nature of X’s enforcement and adds to growing uncertainty about how meme‑coin platforms will maintain visibility post-suspension.

This purge reflects deeper tensions in the memecoin space—characterized by rapid token creation, hyper-speculative behavior, and, increasingly, regulatory scrutiny. A January class‑action complaint already alleged Pump.fun facilitated unregistered securities and earned nearly $500 million in fees. With X’s crackdown adding pressure ahead of high‑stakes token launches, meme‑coin operators face mounting challenges navigating compliance and promotional norms.