Jupiter DEX, ex-Malaysian prime minister shill memecoins in X hack

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

Magazine: Magazine: 5 real use cases for useless memecoins

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• #Scams
• #Hacks
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