Pump.fun token sale postponement and account blocking: latest news
Date: 2025-06-23 Author: Oliver Abernathy Categories: BUSINESS
It is known that the "meme token factory" Pump.fun has postponed the auction and listing of tokens, originally scheduled for June 25, to an indefinite date in July. This information became known to journalist Colin Wu thanks to insider information. The launch and sale of PUMP tokens were planned since the end of last year, but the date of the events was repeatedly shifted. Previously, it was expected that the token sale would attract up to $1 billion, with the entire platform valued at $4 billion. The reasons for the latest delay in public trading have not been reported.
In mid-June, the social network X blocked the accounts of Pump.fun, its founder, and at least 19 accounts associated with meme coins. Such measures are linked to the lawsuit: in January, the New York law firm Burwick Law announced that it was preparing a lawsuit against the platform on behalf of investors who lost significant amounts. The complaints emphasize that the project's founders have collected hundreds of millions of dollars in fees in recent months, while remaining anonymous. In addition, the platform has been found to be host to antisocial content, ragpool schemes, and fraud and deception.
Lawyers from Burwick Law said that they already represent the interests of more than 500 affected investors and called on other investors to join the lawsuit. According to analysts from Dune Analytics, Pump.fun has earned over $761 million in fees, and more than 11,000 tokens have been launched through its launchpad. The peak trading volume was in January, when the turnover reached $3.3 billion in a week, and in June it remains around $1 billion.
An analyst nicknamed Adam, who created a thematic dashboard on Dune, noted that many of the platform's largest wallets are managed by bots. In March, Pump.fun launched its own decentralized exchange PumpSwap based on Solana, refusing to cooperate with Raydium. In May, the team introduced a reward system for meme token creators.
Separately, it is worth mentioning the Solidus Labs report, which states that 98.6% of meme coins that appeared on Pump.fun are associated with fraudulent ragpool and Pump & Dump schemes. This confirms numerous suspicions about the platform's dishonesty and fuels the attention of regulators and investors.
