As a researcher who has spent years diving into the murky waters of cryptocurrency and blockchain, I can confidently say that this latest incident involving Wiz Khalifa’s account being hacked to promote a scam memecoin is nothing new. It’s just another day in the life of a digital asset investigator.
On November 3rd, it’s speculated that the social media account of rap artist Wiz Khalifa was compromised. This is due to the account sharing a fraudulent meme crypto coin with his massive following of 35.7 million people.
On November 3rd, in a since-removed message sent to X, the individuals suspected of hacking Khalifa’s X account claimed that the rapper was collaborating with his team to release the cryptocurrency symbolized as $WIZ for the benefit of the cryptocurrency community.
Within just 15 minutes after its launch, the value of the WIZ memecoin, which was introduced on the meme coin platform pump.fun built on Solana, soared to a maximum worth of $3.4 million.
Over the following hour, the market valuation of the memecoin plummeted below $28,000 due to early investors dumping large amounts of the token. At this moment, WIZ is being traded at around $8,400, as per data from DEX Screener.
According to data compiled by Solscan, the two largest wallets bought approximately 155 million WIZ tokens during the initial release for a total of $19,100. Later, they resold these tokens and made a collective profit of around $160,000.
Although the specific details about the potential attacker and the technique used in Khalifa’s hack remain uncertain, self-proclaimed blockchain investigator ZachXBT speculates that the same individual might have been behind the takeover of Truth Terminal developer Andy Ayrey’s account on October 29th.
In a message sent to his Telegram group on November 3, Zach warned against purchasing the Wiz Khalifa Pump Fun [token], as it’s the same hacker who recently compromised Andy Ayrey (the creator of Truth Terminal) that we’ve been discussing.
The posts promoting the memecoin have since been deleted. However, no further posts have been made to clarify whether or not control of Khalifa’s account has been restored.
Just last week, on October 29th, Ayrey’s X account was illegally accessed, allowing the hackers to exploit Ayrey’s profile to promote a string of fake memecoins. This deceptive activity yielded them an estimated $1.5 million in illegal earnings.
The Truth Terminal AI is the one behind the meme coin, Goatseus Maximus (GOAT), which aims to reach a staggering valuation of $940 million. At present, GOAT is being traded at a market capitalization of $544 million, representing a 39% decrease from its peak value on October 24th, as indicated by DEX Screener statistics.
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2024-11-04 08:31