- Memecoin traders faced sell order issues on Axiom due to a technical change on August 28.
- Axiom admins told users to sell directly on the Pump Fun website during the disruption.
- User complaints surged, with many reporting losses and demanding refunds.
- Pump Fun reverted the technical update within hours, resolving the problem.
- Axiom has reached $256 million in total user-paid fees since its public launch.
On August 28, traders on Axiom, a Solana-based token trading platform, experienced a significant disruption when their ability to sell memecoins suddenly stopped working. The issue came after a technical update from the integrated memecoin generator Pump Fun, causing panic among users who could only execute sell orders directly on the Pump Fun website.
According to administrators in the Axiom Discord server, “If you need to sell you can only do so on Pump Fun’s website.” Hundreds of traders expressed frustration using reaction emojis and posted complaints about cash losses and missed opportunities. Support ticket volumes quickly outpaced the response capacity of the platform’s help team.
Axiom attributed the malfunction to Pump Fun implementing a technical change without notice to automated trading systems, stating on Discord, “Pump Fun has pushed a breaking change without notifying trading bots… We are actively patching it right now.” Posts and livestreams on social media containing phrases like PUMP FUN BANS SELLING! went viral as traders tried to manage losses.
Traders shared specific loss figures, with several reporting losses between 1.5 and 10 SOL (Solana), and demanding refunds in Axiom’s general chats. One user wrote, “I lost 3 SOL on a coin with that bug I need my refund.” Another complained after waiting hours without a response.
Pump Fun rolled back the API update by 4:20 p.m. New York time, which allowed trading bots to function again and resolved the sell order issue, according to Axiom administrators monitoring the situation.
Launched in public beta in late January 2025, Axiom opened for general trading in February. By May, the platform reportedly generated $100 million in revenue. As of the latest reporting, it accumulated $256 million in total fees paid by users.
While the technical issue was resolved within hours, the disruption highlighted the risks of platform dependencies and sudden technology changes for traders in fast-moving digital token markets.
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