The "vote ban" in the currency circle continues to expand: Pump.fun and its joint official account were banned by X

Author: Bitu

In the early morning of June 17, Beijing time, the X (formerly Twitter) platform broke out again, and the official account of the popular Meme token platform Pump.fun and its co-founder Alon were not spared. This is another time after the massive ban on June 12. Dozens of KOLs and project-party accounts in encryption fields, including GMGN's core account and Bloom Trading team, were simultaneously blocked, and a "storm of account ban" targeting the encryption industry is sweeping over X.

According to community tracking, in addition to Pump.fun, there are also a large number of GMGN-related accounts and other independent KOLs and project accounts that have been banned.

These include:

GMGN Related Accounts:

• @gmgnai
• @haze0x (founder)
• @arthur_gmgn (co-founder)
• @Ga__ke (related account)
• @brc20niubi (linked account)
• @Wolfy_XBT (linked account)
• @0xcryptowizard (related account)
• @ivyflame (team member)
• @gmgnaiJapanese

Bloom related accounts:

• @BloomTrading
• @imBFFF00 (Team Member)
• @nftraian (team member)
• @CookerFlips (partner)
• @vibed333 (related account)

Other blocked accounts:

• @bullx_io
• @ElizaOS (Team)
• @shawmakesmagic
• @uxento
• @Nuotrix_

Comments from multiple parties in the community and in-depth analysis of

reasons

Although the X platform has not yet given a clear official explanation, there are many speculations and analysis circulating in the community, trying to explain the reasons behind this large-scale account ban:

1. Serious violation of API usage regulations, X platform strictly cracks down on "black market" data acquisition: some analysts pointed out that some encryption applications such as Pump.fun, GMGN, Bloom and Uxento use Twitter trackers and snipers (i.e. tools that can quickly track tweets or wallets). However, these tools do not obtain data directly from the X platform through legal means, but are allegedly using a "black market" or a shared API - i.e., unofficial or unauthorized access to X platform data.

Platform X has begun cracking down on such behaviors. There has been a precedent before that WuupX, another tool, received a cessation and termination letter for violating Twitter's terms of service. Now, other accounts using similar settings are starting to be banned. This unauthorized data acquisition method is considered to have moved the X platform's "cake", because X's official API fee for enterprises is up to $42,000 per month. Unauthorized use of data crawlers is very likely to violate the platform's terms of service and is deemed to be abnormally accessible or abuse of system resources.

2. Platform manipulation and spam (Spam) behavior: User analysis such as @sakakimay1995, some of them have been blocked, especially ElizaOS and GMGN. There may be an automatic publishing framework behind it (the agent automatically posts on X), or a large amount of homogeneous content is generated to guide users to purchase Meme coins. This kind of content that is batch-generated, has the same structure and lacks sufficient user interaction can easily be judged by the platform as spam or platform manipulation.

3. The "over-extraction of liquidity" allegations are related to potential fraud mechanisms: Encrypted KOL Mary (@MaryWynnReal) pointed out that the founder of Pump.fun was banned by X, which may be related to an abnormal situation called "Liquidity Harvesting 2.0". Mary said it was an alleged mechanism through which funds in users’ wallets mysteriously disappear and reappear in suspicious wallets.

She also mentioned that the move came hours after the platform's internal censorship suggested it could be "unexpectedly overinnovating in financial concepts." In addition, the Pump.fun homepage is nicknamed "DeFi slot machine (Slot Machine of DeFi)" by users, and this term is said to have attracted the attention of "regulatory interns who are very leisurely and have only a superficial understanding of encrypted Memes."

4. "AutoRug" feature rumors: Mary's comment further revealed that insiders said that the founder of Pump.fun has been developing a new feature called AutoRug, aiming to save time for developers and "exit liquidity participants" (i.e., high-level buyers). "It's really efficient. You post the token, it's Rug, and then you get a push notification. It's like Uber Eats, but it offers financial despair."

5. Potential Multijurisdiction Violations: In addition to the “minor violations” of Rule X, the ban may also be related to alleged violations in four jurisdictions, suggesting that the incident may involve a broader legal or regulatory level.

6. Rectification of Meme Coin Promotion Account: Another viewpoint believes that this account closure may be a centralized rectification by the X platform for accounts that frequently publish various Meme token contract addresses (CAs). Given the high risk and potential market manipulation doubts of the Meme currency market (such as the Pump.fun platform's revenue of US$1 billion in 2024 but only 0.4% of its wallet profits, and 80% of its Meme currency plummeted), the X platform may be strengthening supervision of the promotion of such high-risk financial products.

7. Relatively "far-fetched" guesses: There are also some more "rippy" guesses, such as the release of emoticons of Trump or Musk, but this is usually not considered the main reason.

Community Response with Pump.fun Current Status

The incident happened suddenly and in large scale, which caused many KOLs and project parties to have doubts about the content supervision mechanism of X platform. The banned account is being appealed one after another. As of the time of publication, the operation of Pump.fun’s official website and through other channels is still active. The community’s discussion on this large-scale ban is still fermenting. More details and the official response of the X platform remain to be seen.