TLDR:

Major crypto projects’ accounts like PumpFun and GMGN, were suspended on X  on June 16.
Crypto teams lost both official and personal accounts in a coordinated takedown.
Projects now rely on Telegram and websites for user communication after X bans.
A PumpFun ex-team member was arrested in the UK for stealing $1.9M in SOL tokens.

Social media platform X has launched an unexpected crackdown on cryptocurrency projects, suspending multiple high-profile accounts without warning. The mass suspension occurred on June 16, targeting popular platforms that facilitate memecoin trading and Web3 services. 

Major crypto projects, including PumpFun, BullX, and GMGN, found their accounts suddenly inaccessible. The platform has yet to provide official explanations for these actions. 

This development has sent shockwaves through the cryptocurrency community, particularly as some projects were preparing significant launches.

Major Crypto Trading Platforms Hit in Sweeping Action

The suspension wave affected several prominent cryptocurrency trading platforms that have gained substantial followings. PumpFun, known for facilitating memecoin launches, was among the most notable casualties of this crackdown. 

BullX and GMGN, both popular Web3 trading tools, also lost their official accounts on the platform. ElizaOS and Bloom Trading joined the list of suspended projects, creating confusion among their user bases.

Crypto analyst Patel reported that even personal accounts belonging to team members and founders faced removal. This broader targeting suggests X implemented a systematic approach rather than isolated account suspensions. 

The timing proved particularly unfortunate for PumpFun, which was reportedly preparing a massive $1 billion token launch.

The sudden suspensions have limited these projects’ ability to communicate with their communities. X serves as a primary channel for crypto projects to share updates, announce new features, and engage with users. 

BREAKING: X Suspends Several Crypto Projects Including PumpFun, BullX, GMGN & More!

X has suddenly suspended the accounts of many popular crypto projects. These include:
PumpFun
BullX
GMGN
ElizaOS, Bloom Trading, and others
Even some personal accounts of team… pic.twitter.com/Gc5OdizppS

— Crypto Patel (@CryptoPatel) June 17, 2025

Without access to their official accounts, these platforms cannot easily reach their established audiences or provide crucial information about their services.

However, most affected projects maintain active presences on alternative platforms. Patel noted their websites remain operational, and Telegram groups continue functioning normally. This allows users to access services and receive updates, though the reach and engagement levels differ significantly from X’s broader audience.

False Arrest Claims Surface Alongside Real Legal Issues

Misinformation has emerged alongside the legitimate suspensions, creating additional confusion in the crypto space. 

False rumors began circulating that PumpFun’s founder was arrested in New York City, with claims that courts had ordered the website’s shutdown. These reports proved completely inaccurate, as confirmed by multiple sources within the cryptocurrency community.

The reality involves a different legal situation entirely. A former PumpFun team member was indeed arrested, but this occurred in the United Kingdom rather than the United States. 

This individual allegedly stole approximately $1.9 million worth of SOL tokens from the platform. The arrest relates to internal theft rather than regulatory action against the company itself.

The broader implications of X’s crypto account suspensions remain unclear, raising questions about potential future restrictions on cryptocurrency-related content and projects across the platform.

The post X Suspends Major Crypto Projects in Sudden Account Purge appeared first on Blockonomi.

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Filed under: Bitcoin - @ June 17, 2025 7:15 am