Minus Twenty: X Cracks Down on Crypto Accounts
The social network X (formerly Twitter) launched a large-scale cleanup: more than 20 crypto accounts were banned – including Pump.fun, its co-founder Alon Cohen, GMGN, BullX, and Eliza OS. The official reason is unclear, but the community suspects violations of API rules.
Pump.fun, a popular memecoin service, has long been accused of running pump-and-dump schemes. According to a lawsuit, the project made nearly $500 million on questionable tokens, many of which quickly crashed, leaving investors high and dry.
Why it matters?
- In 2025, the crypto market is showing signs of recovery after the 2022–2023 crash. But X’s actions show that black-market schemes and fraud are still a major risk.
- X’s API policy became stricter in early 2023, switching to a paid model. Third-party services are now forced to either pay exorbitant fees or work around the system — which often leads to bans.
- Alongside Pump.fun, many accounts promoting memecoins and market manipulation also got the axe.
💡 Expert opinion:
“X’s purge is a clear message to the crypto community: the platform wants to eliminate grey areas and tighten content control,” says a CoinWatch analyst. “Good news for legitimate projects, bad news for speculators.”
This situation echoes 2017, when Google banned crypto ads and YouTube mass-blocked crypto bloggers. That ban lasted just one day, but it sparked unity in the crypto scene. Now it seems history is repeating — only on a bigger scale.
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