Highlights:
- Celebrity social media hacks continue, with Doja Cat’s and Sydney Sweeney’s accounts promoting scam cryptocurrencies.
- Rapid value fluctuations of promoted tokens, like $DOJA, illustrate the risks of investing in meme coins.
- Increased celebrity endorsements of cryptocurrencies demand greater investor caution and thorough due diligence.
American rapper and singer Doja Cat became the latest celebrity victim of a social media hack aimed at promoting a Solana-based meme coin. Hackers took control of her X account, which boasts 5.6 million followers, to push a fraudulent token named “$DOJA.” Despite the hackers’ efforts, Doja Cat promptly informed her 24 million Instagram followers that she was not behind the tweets.
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Doja Cat Has Been Hacked On X
She Explained In New Video The Moment She Saw That Her Account Got Hacked And Spreading pic.twitter.com/HMU9esEJol— Daily Trends (@trends_dailyU) July 9, 2024
Celebrity Twitter Hacks Propel Volatile $DOJA Token Surge
Shortly after the unauthorized promotion began, the $DOJA token experienced a sharp increase in market value, peaking at a market capitalization of $1.65 million. However, the spike was fleeting; the value crashed to just $16,820 within hours, causing significant financial losses to investors. The initial tweet appeared at 7:15 PM ET on Monday, linking to a crypto wallet address and urging the purchase of $DOJA.
This incident is part of a disturbing trend in hijacking celebrity social media accounts to promote crypto scams. Last month, similar breaches occurred involving the accounts of Hulk Hogan, rapper 50 Cent, and the band Metallica. Each hack promoted different Solana-based meme coins, demonstrating a pattern targeting high-profile figures with large followings.
Iggy Azalea Criticizes Hackers for Misusing Friendship in Scam
Rapper Iggy Azalea, known for her involvement with the $MOTHER meme coin, reacted to the hacking incident on X. She expressed her frustration with X, particularly upset at how the hackers exploited her friendship with Doja Cat to validate the scam.
Get rugged if yall want but I’m cool w that girl irl so yall fucked up w that tweet hackers.
😹🤷♀️— IGGY AZALEA (@IGGYAZALEA) July 8, 2024
Market data from DEXScreener shows that despite the chaos, the $DOJA token saw less than 15,000 transactions, generating about $2 million in volume, indicating a relatively muted response compared to previous incidents.
Sydney Sweeney’s X Account Hacked to Promote Scam
American actress Sydney Sweeney’s X account fell victim to hackers who promoted a new Solana-based cryptocurrency, SWEENEY. The false posts announced the token launch, leading to over $10 million in trades within two hours on July 2nd. This sudden surge in activity was part of a classic pump-and-dump scheme where the cryptocurrency’s price was inflated and sold at its peak for a profit.
The hackers behind this scam also hinted at targeting another high-profile celebrity soon and encouraged followers to join a presale. As cryptocurrencies endorsed by celebrities grow in popularity, so does the potential for scams, highlighting the need for investors to exercise increased caution and vigilance.
The Doja Cat incident underscores the need for heightened security measures on social media platforms, especially for accounts with substantial followings. As the lure of quick profits continues to drive these scams, investors are urged to conduct thorough due diligence before engaging with any digital assets, particularly those promoted under dubious circumstances.
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