Hackers Hijack Twitter accounts to Push Solana Meme Coin

A coordinated hacking attempt targeted several high-profile Twitter (aka X) accounts on Wednesday. With hackers hijacking the profiles of celebrities and brands to promote a Solana-based meme coin named $HACKED. Despite the scale of the attack, the cryptocurrency scam failed to gain much traction.

High-Profile Targets

Among the notable victims were Lenovo India, film director Oliver Stone, Yahoo News UK, and Brazilian soccer star Neymar Jr.. These accounts were used to promote $HACKED, a meme coin running on the Solana blockchain. The tweets posted on the compromised accounts read:

“INTRODUCING $HACKED ON SOLANA. On each account we hack we publish the token address so we pump it and make profits together.”

The aim was clear: promote the token, encourage users to pump its value, and cash out at a profit. However, the scam was short-lived, and many of the hacked accounts swiftly deleted the fraudulent tweets.

Poor Execution and Minimal Gains

Pseudonymous crypto investigator ZachXBT first exposed details of the attack. Noting that despite the wide reach of the compromised accounts, the operation yielded meager results. The $HACKED coin saw limited trading volume. Reportedly generating only $8,000 in profit for the attackers.

At its peak, $HACKED recorded around $278,000 in trading volume but soon plummeted in value—dropping 96% in just one hour, with a market cap shrinking to $5,700. “Strong contender for most incompetent hacker of the year,” ZachXBT tweeted in response to the failed scheme.

Meme Coins on Solana

Solana, known for its low fees and fast transactions, has become a popular blockchain for launching new tokens, including meme coins. These highly volatile cryptocurrencies are often based on internet jokes, celebrities, or trending events.

One of the reasons for the influx of meme coins on Solana is the launch of Pump.fun in early 2024—a platform that allows anyone to create a meme coin without technical expertise or large costs. This ease of access has contributed to the proliferation of speculative tokens, including $HACKED, which hackers attempted to promote through the compromised Twitter accounts.

Not the First Time

Crypto scams on high-profile Twitter accounts are nothing new. In 2020, a similar attack targeted the accounts of former President Barack Obama, Apple, Uber, and Kanye West, among others, in a Bitcoin giveaway scam. While the current scheme was less successful in its execution, it underscores the continued vulnerability of prominent social media accounts to crypto-related fraud.

The hacking of prominent Twitter accounts to promote the $HACKED meme coin on Solana highlights the ongoing trend of cybercriminals exploiting social media platforms for quick gains. While this particular scam failed to take off, it serves as a reminder of the risks associated with meme coins and the need for vigilance in the crypto space.