Doja Cat's Account Hacked, Leading To $1.6M Loss In Solana Memecoin Scam

Doja Cat's Account Hacked, Leading To $1.6M Loss In Solana Memecoin Scam

Published Wednesday 10th July 2024

Doja Cat, the popular singer and rapper, fell victim to a hacking incident that resulted in a significant financial loss of $1.6 million. The hack targeted her Twitter account, which was then used to promote a Solana-based meme coin in what is known as a pump-and-dump scam. This type of scam involves inflating the price of a cryptocurrency through misleading promotions and then quickly selling off the assets at a profit, leaving investors with substantial losses.

The hacker's manipulation of Doja Cat's Twitter account led to the false promotion of the Solana-based meme coin, resulting in over $1.63 million in losses for unsuspecting investors. The scam exploited the singer's large following on social media to give credibility to the fraudulent scheme, ultimately causing a significant financial impact on those who were deceived into investing in the fake cryptocurrency. The incident highlights the dangers of cyber hacks and the importance of staying vigilant when it comes to financial investments, especially in the volatile cryptocurrency market.

Crypto News & Headlines

Standard Chartered, Animoca Brands Join Hong Kong's Stablecoin Sandbox

The Hong Kong Monetary Authority (HKMA) has announced participants, including Standard Chartered and Animoca Brands, for its stablecoin issuer sandbox

Trending on 18th July 2024 01:23 PM

BlockFi To Begin Temporary Crypto Distributions On Coinbase In July

Bankrupt crypto lender BlockFi will begin its first temporary distribution of crypto assets through Coinbase in July, but non-U.S. clients are current

Trending on 18th July 2024 12:54 PM

Mt. Gox Creditors Face Multiple Brute-Force Login Attempts

Mt. Gox creditors are reporting numerous unauthorized login attempts on their accounts, with the claims website currently down for maintenance.

Trending on 18th July 2024 11:03 AM

Polygon (MATIC) Set For Major Upgrade And Migration To POL Token On September 4

Polygon (MATIC) is undergoing significant upgrades, including a token transition to POL by September 2024, as part of its 2.0 roadmap to enhance its Z

Trending on 18th July 2024 10:45 AM

Indian Crypto Exchange WazirX Hit By $230M Hack

WazirX, a major Indian crypto exchange, suffered a security breach where over $230 million in crypto assets were unauthorizedly transferred from its m

Trending on 18th July 2024 09:43 AM