Pump.fun and Founder’s X Accounts Suspended Amid SEC Speculation

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.

Key Takeaways

• Pump.fun and founder’s X accounts suspended on June 17
• No confirmed SEC charges or new arrests
• CFTC previously fined related parties $19.3M
• Legal scrutiny dates back to early 2025 lawsuits
• X posts likely exaggerated older news, causing confusion

Social Media Disappearances Prompt Questions

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.

No Arrests, Despite Viral Claims

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.

Ongoing Legal Scrutiny Dates Back Months

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.

SEC Involvement: Investigative, Not Confirmed

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.

Did You Know?

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.