Jupiter recovers official X account after scammers promote MEOW
Solana-based dex aggregator Jupiter has recovered its X account after it was hijacked by cryptocurrency scammers who promoted a fraudulent meme coin.
Based on a Feb. 6 X publish, reassured customers that no funds had been ever in danger. They confirmed that each one buyer and treasury property stay safe in multisig wallets. The assault was restricted to Jupiter’s X account, with no different communication channels affected.
The hack transpired throughout the late hours of Feb. 5, with a number of neighborhood members sounding the alarm about suspicious exercise. In a brand new deleted publish, Jupiter Cell’s X account rapidly warned customers to not click on any hyperlinks or buy tokens promoted by the compromised important account.
Scammers used the chance to advertise a meme coin theme round Jupiter’s cat mascot with the ticker MEOW, which allegedly surged to a $30 million market cap inside seconds earlier than the token’s developer bought their holdings, rapidly wiping out all positive aspects. All promotional posts have now been deleted.
Beanie, the pseudonymous founding father of crypto enterprise capital agency GM Capital, criticized the irony of trusting protocols with billions in liquidity whereas they fail to safe their social media accounts, calling it a recurring paradox within the business.
“Merchants misplaced thousands and thousands immediately on this Jupiter account hack. Actually in a matter of minutes,” he estimated.
The neighborhood wasn’t too joyful about the entire state of affairs, calling out Jupiter for not securing its account correctly. Some had been additionally annoyed that, although Jupiter assured funds had been secure, the losses from the rip-off couldn’t be recovered.
Others praised the crew’s fast response and transparency in regards to the breach, with one consumer stating that the incident strengthened their belief within the Jupiter crew.
https://twitter.com/DayliCryptomeme/standing/1887348530844737993
The incident could have added to some promoting strain on JUP, the platform’s native token, which had dropped over 5% throughout the aftermath.
Crypto scammers have lengthy exploited the X accounts of prominent blockchain projects, celebrities, and public figures to push fraudulent tokens and phishing schemes.
Final month, Breaking Dangerous star Dean Norris became the latest victim after his X account was used to advertise a sham token primarily based on his persona. Scammers managed to inflate the token’s market cap to as excessive as $8.4 million at its peak earlier than offloading their pre-acquired holdings.
Simply days earlier than, the official account of Cuba’s Ministry of Overseas Affairs was locked as a consequence of what gave the impression to be an identical incident.
