American actress Sydney Sweeney’s X account was hacked to advertise the SWEENEY crypto token, which seems to be a part of a pump-and-dump rip-off.
One of many now-deleted posts from Sweeney’s account learn, “Effectively I believe it’s time. $sweeney is now stay 100mc incoming.”
The token, constructed on the Solana blockchain, noticed its buying and selling quantity surge to over $10 million inside two hours of its launch on July 2.
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Regardless of the preliminary hype, SWEENEY’s worth plummeted by roughly 90% in simply over an hour after it peaked at 6:15 PM UTC. Its market cap now stands at lower than $600,000, a pointy decline from its peak of $3.85 million.
A Telegram channel related to the token, which was promoted on Sweeney’s X account, had an administrator who claimed duty for the hack.
In messages which have since been deleted, additionally they admitted involvement in current hacks of rapper 50 Cent and former wrestler Hulk Hogan’s X accounts, which had been equally used to advertise fraudulent tokens. Moreover, they hinted at focusing on one other superstar with out offering particular particulars.
The hack is a part of a pattern involving celebrities within the promotion of crypto tokens. Media figures like Caitlyn Jenner and rappers Iggy Azalea and Wealthy the Child have launched Solana-based memecoins with the help of memecoin collaborator Sahil Arora.
Amongst these, Azalea’s token, MOTHER, carried out the perfect, reaching a peak market cap of $148.9 million. Nonetheless, it has since dropped by practically $100 million.
The sample of hacking social media accounts to push questionable crypto initiatives stays a troubling pattern in crypto.
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