Celebrities' Accounts Hacked in Coordinated Crypto Promotion Scheme: Temporary Market Surge Observed
Summary:
Over the past weekend, notable figures and celebrities, including an investor known as Gigantic-Cassocked-Rebirth (GCR) and American rapper "Rich The Kid" had their X accounts hacked, resulting in unauthorised cryptocurrency promotions. Despite the unexpected promotions of ORDI and Luna2.0 by GCR's account leading to temporary price surges, the hacking incident didn't yield significant benefits as expected. Other celebrities like Caitlyn Jenner promoted a memecoin "JENNER" that has seen a considerable market cap since its launch. While it's suspected these posts are due to hacking, confirmation videos from Jenner have added authenticity. Experts urge vigilance amid these incidents.
Over the past weekend, various reputable personas and celebrities experienced hacking incidents on their X accounts, resulting in promotions of various cryptocurrencies including ORDI and Luna2, as well as celebrity-themed memecoins. Among these people was Gigantic-Cassocked-Rebirth or GCR, a notable digital currency investor that is recognized for lucrative trades going against regular market trends. The investor verified the breach of their X account. On May 26, GCR's X account featured posts about ORDI and Luna 2.0, which caused a fleeting surge in their values by 6% and 274% respectively. Observers noted that the intruder could have possibly promoted a microcap coin with this opportunity. Suggesting that the hacker's decision to post about these particular coins failed to yield significant returns, Miles Deutscher, a crypto analyst, stated, “GCR hacker fumbled the bag hard. Bro could have easily chosen ANY convincing micro cap to inflate by 10-20x, yet decided to push ORDI and LUNA2 for a modest 10% wick.” The market cap for ORDI has already ballooned to $856 million, which inherently curtails its potential for further upside relative to smaller-cap currencies.
The incident involving GCR could just be one manifestation of a broader attack on celebrity X accounts. Udi Wertheimer, a Bitcoin developer, notified that GCR earlier indicated an ongoing digital operation aimed at breaching established Twitter accounts. We could see more niche celebrities promoting meme coins. It is recommended to be vigilant and safe.
Moreover, “Rich The Kid” (Dimitri Leslie Roger), an American rapper, promoted a newly introduced token, “RICH” which was deployed on Solana memecoin creator tool pump.fun. The token managed to achieve a market cap of $90,000 within the first couple of hours since its launch. However, it remains unclear whether the rapper's X account was compromised.
Simultaneously, a new memecoin, "JENNER", was endorsed by the X account of renowned American media personality, Caitlyn Jenner. This coin accumulated a market cap of $4.7 million within four hours after its introduction. Many experts suspect that these posts are a result of hacking activities. However, this particular promotion was found more believable as it was distributed across two different social platforms and also included video confirmations assuring authenticity from Jenner herself. Jenner told her 3.3 million X followers, “Indeed, the cryptocurrency posted on my account is authentic, quickly participate if you want to be part of it.”
Interestingly, the same wallet account was used by both Jenner and adult content creator, Kazumi, who suffered a similar hacking incident while endorsing "ZUMI" on May 20.
Published At
5/27/2024 4:16:42 AM
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