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Mass Hacking on X Promotes $HACKED Token, Gains Only $8K

A mass hack on X aimed at promoting the $HACKED token led to only $8K in revenue, raising concerns about security and scams in the crypto space.

1 min 10 secSeptember 19, 2024

Highlights:

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Hackers compromised multiple accounts to promote a meme token.

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Investigators label the operation a failure, costing hackers more.

Mass Hacking on X Promotes $HACKED Token, Gains Only $8K

A recent mass hacking incident on the X social network has drawn attention to the vulnerabilities of high-profile accounts, as hackers exploited them to promote a dubious Solana-based meme token named $HACKED. 

 

 

The breach affected various business and personal accounts, including notable names like Yahoo News UK and Lenovo India. Blockchain investigator ZachXBT reported that the hackers managed to generate only $8,000 after draining liquidity from the token, a stark contrast to their likely investment of five to six figures in executing the scheme.

 

ZachXBT criticized the hackers, labeling them as "seriously incompetent" for their meager earnings compared to the resources they likely expended. 

 

 

The $HACKED token experienced a staggering 900% price surge during the manipulation before its legitimacy came under scrutiny.

 

This incident highlights a troubling trend where scammers are increasingly targeting social media accounts to create false endorsements for meme coins, often leading to significant financial losses for unsuspecting investors. ZachXBT has urged users to exercise caution and avoid engaging with the $HACKED token, emphasizing that it is backed by bad actors.

 

As the crypto landscape continues to evolve, incidents like this underscore the necessity for enhanced security measures and greater awareness among users regarding potential scams in the rapidly changing world of digital currencies.

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