- Several celebrity and influencer X accounts on social media platforms have been hacked, with the attackers promoting various cryptocurrencies and meme tokens.
- One notable figure who confirmed their account was compromised is Gigantic-Cassocked-Rebirth (GCR), a popular pseudonymous crypto investor known for contrarian trades.
- On May 26, GCR’s hacked account, boasting over 247,900 followers, promoted ORDI and Luna2.0, causing momentary price surges of 6% and 274%, respectively.
Discover how high-profile social media hacks are influencing the cryptocurrency market and causing significant price fluctuations.
High-Profile Hacks and Their Immediate Impact
The recent wave of hacks targeting celebrity and influencer X accounts has sent ripples through the cryptocurrency market. GCR, a well-known crypto investor, saw their account used to promote ORDI and Luna2.0, leading to sudden price surges. This incident underscores the vulnerability of social media accounts and the potential for market manipulation.
Broader Implications of the Hacks
Bitcoin developer Udi Wertheimer highlighted the broader implications of these hacks, noting that GCR had previously warned of an ongoing operation targeting prominent Twitter accounts. This raises concerns about the security measures in place to protect high-profile accounts and the potential for further market disruptions. Wertheimer’s cautionary advice comes at a time when niche celebrities are increasingly launching meme coins, often coinciding with periods when platform engineers are less active.
Case Studies: Rich The Kid and Caitlyn Jenner
American rapper Rich The Kid’s X account was another target, sharing a link for his 2.3 million followers to purchase a new token, “RICH,” launched on the Solana-based meme coin creator tool pump.fun. Within two hours, RICH amassed a market cap of $90,000. Although there has been no official confirmation of a hack regarding Rich The Kid’s account, the promotional post has since been removed, indicating possible unauthorized access.
Caitlyn Jenner’s Involvement
Similarly, Caitlyn Jenner’s X account promoted the meme coin “JENNER,” which has garnered a market cap of $27.1 million since its launch. Videos featuring Jenner and her manager, Sophia Hutchins, confirmed the authenticity of the posts and videos, dispelling any notions of deepfakes. The JENNER coin was also promoted on Jenner’s Instagram accounts, with Hutchins hosting an X space to reaffirm the legitimacy of the promotions.
Connections to Other Tokens
The JENNER token’s wallet was linked to promotions by adult content creator Kazumi, who is suspected to have been hacked when promoting the coin “ZUMI” on May 20. Other tokens, including RICH, DOLL, and SOULJA, were allegedly tied to JENNER, though Jenner’s team claimed no knowledge of these connections when questioned in the X space. This web of interconnected promotions raises questions about the coordination and intent behind these hacks.
Conclusion
The recent spate of hacks on celebrity X accounts highlights the ongoing security challenges within the cryptocurrency market. These incidents not only affect the individuals involved but also have broader implications for market stability and investor confidence. As the crypto landscape continues to evolve, it is imperative for social media platforms and users to implement robust security measures to safeguard against such vulnerabilities. Moving forward, increased vigilance and proactive measures will be crucial in mitigating the risks associated with these high-profile hacks.
