Memecoin Scammers Exploit Crypto Influencers’ X Accounts

Memecoin Scammers Exploit Crypto Influencers' X Accounts

Scammers targeted popular crypto influencer GCR on X (formerly Twitter) late Sunday, compromising his account to post misleading predictions about the ORDI token, which caused a brief price surge.

The hacker used GCR’s account to post promotional content for ORDI and Luna 2.0 tokens, leading to temporary increases in their prices. GCR later confirmed the hack, urging his followers to disregard any promotional posts from his account.

GCR speculated that someone within X.com was “bribed” to provide his login credentials, leading to the security breach. “Was notified 2 months ago by someone affiliated with Twitter that bribes had been made to get access to my account, and beefed up security then. But there can’t be any security if X employees take money for admin access,” he tweeted.

Following the hacker’s post, ORDI’s price climbed from around $40 to $44 before falling back to $40. Luna 2.0 experienced a momentary 274% surge.

Observers’ Predictions

GCR’s warning about the hack has drawn attention from several crypto observers who speculated on the hacker’s motives. Bitcoin developer Udi Wertheimer suggested that the hack might be part of a larger scam targeting celebrities and crypto influencers. “As more niche celebs are popping up by the minute launching meme coins — on a long weekend when platform engineers are away — I recommend that you guys be very careful,” he cautioned.

Chinese crypto blogger Colin Wu noted that the hacker “established positions on OKX and Binance 6 minutes in advance,” while crypto analyst Miles Deutscher criticized the hacker for poor execution, saying, “Bro could’ve picked any believable micro-cap to pump 10-20x, yet chose to shill ORDI and LUNA2 for a measly 10% wick.”

Celebrity Crypto Influencers’ X Accounts Hacked

This incident follows similar hacks involving other celebrities. American rapper “Rich The Kid” posted a link to buy a new token, RICH, launched on the Solana memecoin creation platform pump.fun. The token’s market value reached $90,000 in the first two hours before the post was deleted, and no official statement was made confirming the hack.

Similarly, American media personality Caitlyn Jenner’s X account promoted a new memecoin, JENNER, also on pump.fun. The token accumulated a market value of $4.7 million since its launch. Jenner continued to promote the coin, urging followers to ignore detractors. “They want you to stay broke,” her recent post read.

These incidents highlight the increasing vulnerability of crypto influencers’ accounts to hacks, with scammers exploiting their reach to manipulate memecoin prices.

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