Axiom traders panic as Pump Fun temporarily bans selling memecoins
On Thursday, memecoin traders panicked as their sell buttons stopped working. In the Discord chat for Axiom, a popular trading platform that integrates with Solana-based memecoin generator Pump Fun, administrators admitted, “If you need to sell you can only do so on Pump Fun’s website.”
Users reacted using the skull — or “dead” — emoji 166 times and threw up the middle finger emoji 44 more.
Hundreds of complaints rained in as Axiom traders panicked to get out of positions, lost money, and requested refunds.
Support tickets piled up beyond the abilities of normally responsive customer support agents.
Axiom is a yCombinator-backed platform for trading Solana tokens. Via integrations like API, memecoin traders can usually execute purchases and sales of Pump Fun memecoins via Axiom.
That ease ended abruptly on Thursday afternoon.
Axiom traders lose as sell button malfunctions
Axiom blamed Pump Fun for pushing a technical update that temporarily banned selling. “Pump Fun has pushed a breaking change without notifying trading bots,” administrators posted in Discord.
“We are actively patching it right now,” they assured customers.
Broadcasts on social media with titles like “PUMP FUN BANS SELLING!” and posts on X went viral.
“You can’t sell with any bot right now, only on their website,” read one, while another screamed, “NOBODY CAN SELL WE ALL BAG HOLDERS NOW.”
When managing a large or leveraged trade, uninterrupted access to execute buy and sell orders is critical to maintaining control over a market position.
Customer complaints flooded Axiom’s general chat. “I lost 3 SOL on a coin with that bug I need my refund,” wrote one victim.
“I just lost 10 SOL,” wrote another.
“I’ve been waiting for 3 hours and haven’t seen a refund or a response,” complained another user. “I need my refund of 1.5 SOL,” posted another.
Read more: Pump Fun’s token is crashing like a Pump Fun token
Around 4:20pm New York time, Pump Fun reverted changes to its API and seemingly resolved the error.
Administrators in Axiom, overwhelmed with support and refund tickets, tried to reassure customers that the emergency had passed.
Axiom launched in beta in late January 2025, opened for public trading in February, and reached $100 million in revenue by May.
As of publication time, its platform had accumulated $256 million in total fees paid by users.
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