Over 20 memecoin-related accounts have been suspended on X with “no official information,” in what some suspect could also be linked to unauthorized API use.
Social media platform X (previously often known as Twitter) suspended pumpfun’s official profile — the largest memecoin launchpad, which has generated almost $700 million since its inception — along with dozens of different crypto and particularly memecoin-related accounts with none discover on Monday.
Pumpfun’s official account was suspended together with that of its co-founder, Alon Cohen, and not less than 19 different crypto-related profiles on X. The crackdown additionally appears to have focused accounts linked to different memecoin launchpads and crypto buying and selling instruments resembling ElizaOS, GMGN, Bloom Buying and selling, and BullX.
The explanation behind the widespread suspension stays unclear so far. “No official information has been released,” a consultant from one affected platform, who wished to stay nameless, informed The Defiant, including that they’ve already contacted X to resolve the problem.
The Defiant additionally reached out to X, however acquired no response by publication time.
Some within the crypto neighborhood speculate the sudden wave of suspended accounts may very well be linked to previous misuse of livestream options or API violations.
The founding father of open-source academy for builders WTF Academy, who makes use of the deal with @0xAA_Science, identified in an X publish that pumpfun was utilizing a software known as “Twitter Tracker” to watch posts, profile modifications, and follows.
As @0xAA_Science speculated, the software probably relied on an “unofficial API,” which might have led to pumpfun’s suspension. It’s unclear if different suspended accounts additionally tried to bypass X’s paid API plans.
Since Elon Musk took over X, the platform has severely tightened entry to its API by slicing off most free entry in early 2023. Now, the platform is charging from $200 as much as $42,000 a month, relying on utilization and entry degree.
Pumpfun’s X suspension comes only a few days after analysts at market intelligence agency Messari projected that the platform’s reportedly upcoming token sale may very well be valued round $7 billion or extra. Messari analyst Sunny Shi described pumpfun as “the most profitable crypto application of all time,” including additional that the platform might generate as a lot as $675 million in income by 2027.
