X platform has once again imposed a large-scale ban on encryption accounts, affecting multiple projects including Pump.fun.

Recently, a large-scale account ban incident occurred again on a social platform, with multiple cryptocurrency-related accounts being blocked. This ban involves a wide range of targets, including popular Meme token platforms and their founders, core accounts of the GMGN ecosystem, the Bloom Trading team, and several well-known projects and industry opinion leaders.

According to community tracking, the accounts that were banned include:

• Pump.fun platform and its co-founder
• Multiple accounts related to GMGN, including the founder, co-founder, and team members.
• Bloom Trading team and related partners
• Other independent projects such as BullX, ElizaOS, etc.

Although the platform has not provided an official explanation for the account suspension, various speculations and analyses regarding the reasons have been made within the community:

1. Violation of API usage regulations: Some encryption applications may have obtained platform data in an unauthorized manner, which is considered an infringement of platform interests.

2. Platform manipulation and spam: Some accounts may have automated publishing frameworks or generate homogeneous content in bulk, guiding users to purchase specific tokens.

3. Improper liquidity extraction: Some analyses indicate that certain platforms may be involved in a suspicious mechanism known as "liquidity harvesting 2.0".

4. Suspected development of an automatic exit mechanism: There are rumors that a certain platform is developing a feature called "AutoRug", which has sparked controversy.

5. Cross-jurisdictional violations: Account suspension may involve potential violations across multiple jurisdictions.

6. Meme Coin Promotion Regulation: Considering the high risk nature of the Meme Coin market, the platform may be strengthening the regulation of the promotion of such products.

The recent large-scale account banning incident has sparked widespread discussion in the encryption community, with many project teams and opinion leaders expressing concerns about the platform's content regulation mechanisms. Currently, the banned accounts are in the process of appealing, and some affected projects are still maintaining operations through other channels. Discussions in the community about this issue are ongoing, and more details along with the platform's formal response are yet to be observed.