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In a series of hacks, decentralized exchange aggregator Jupiter and a former Malaysian prime minister had their accounts hijacked to promote sham coins.
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Solana-based decentralized exchange (DEX) aggregator Jupiter and the former Malaysian prime minister both suffered hacks to their X accounts on Feb. 5, which scammers used to promote scam memecoins.
Jupiter Mobile’s X account sounded the alarm in a Feb. 5 post, warning people not to click links or buy any tokens mentioned on the main account, saying that the “team is working on restoring access.”
Jupiter co-founder Siong Ong confirmed that the official account had been compromised but that other programs used by the exchange were protected by a multisignature feature, requiring more than one person’s approval to gain access.
Source: Jupiter Mobile
“All our programs are in a 4/7 multisig. They are secure. We will go through everything again,” he said.
The now-deleted posts on Jupiter’s main account reportedly promoted a scam memecoin with the ticker MEOW, with some users claiming the coin hit a $30 million market cap in only a few seconds before the posts were deleted and the coin rugged.
GeckoTerminal shows a coin with the MEOW ticker that’s only four hours old and spiked to a market cap of over $8 million before losing over 98% of its value and crashing to $88,000.
Crypto venture capital firm GM Capital’s pseudonymous founder, Beanie, speculated that: “Traders lost millions instantly on this Jupiter account hack. Literally in a matter of minutes.”
Source: Beanie
It comes as former Malaysian prime minister Mahathir Mohamad was also targeted by scammers who hijacked his X account to promote a sham token.
SlowMist founder Yu Xian said in a post to X that an account belonging to Mohamad, the country’s longest-serving Prime Minister, was comprised and promoted a coin with the ticker MALAYSIA.
Related: Litecoin X account briefly hacked to promote a fake token
Data from GeckoTerminal shows the token’s market cap quickly spiked to $3.4 million at its peak but quickly collapsed. It’s now sitting at $153,000.
Meanwhile, last month, TV star Dean Norris, best known for his role as Hank Schrader in Breaking Bad, had his X account hijacked for the second time to promote a memecoin that used his likeness as part of a pump and dump scheme.
Accounts were also pretending to be the US treasury and issuing fake Bank of America, JPMorgan, and BlackRock tokens on the XRPL.
This article first appeared at Cointelegraph.com News
