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Pump.fun and its founder’s X accounts were suspended on June 17, 2025, sparking speculation of SEC involvement. No new charges or arrests confirmed.
Author: Tanishq Bodh
Written On: Tue, 17 Jun 2025 00:05:16 GMT
June 17, 2025 – The X accounts belonging to Solana-based memecoin platform Pump.fun and its founder, known as @a1lon9, were suspended earlier today, fueling widespread speculation over regulatory action. While multiple posts on X suggested U.S. agency involvement, no official charges or arrests have been confirmed in the past 48 hours.
On June 17, users began noticing that @pumpdotfun and @a1lon9 had vanished from X. While the platform did not provide a specific reason for the suspensions, prominent crypto accounts speculated that the move may be tied to alleged manipulation involving memecoins or concerns about the platform’s “AutoRug” mechanics.
Posts by influencers including @mufasaxbt, @mysterioushuntt, and @0xBrokeAgain hinted at SEC investigations targeting Pump.fun’s operations and user activity exceeding $10,000 in volume. However, as of this writing, no new SEC filings or public legal actions have been confirmed.
Some posts also claimed that Pump.fun’s founder had been arrested—claims that appear to stem from confusion with a May 2024 arrest of former employee Jarett Dunn, who exploited the platform for $1.9 million. There are no verified reports of a new arrest from June 16 or 17, 2025.
Pump.fun has faced legal headwinds since January 2025, including a class action lawsuit alleging securities violations and inflating token volumes via influencer campaigns. The suit claimed the platform accrued nearly $500 million in fees, sparking regulatory concern.
On top of that, a $19.3 million CFTC penalty issued for misleading token promotion practices has compounded the platform’s legal vulnerabilities.
Though SEC involvement is widely speculated, no formal charges have been confirmed as of June 17. If true, the investigation may relate to broader efforts to regulate meme-driven platforms accused of enabling unregistered securities and market manipulation.
Pump.fun once processed over $120 million in trading volume in a single day, becoming one of the most active Solana-based platforms in 2024 before regulatory spotlight intensified.
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