Rapper Doja Cat’s X account was hacked to promote a scam token, resulting in investor losses of over $1.63 million. This article details the hack, the promotion of the scam coin, and the impact on investors.
Points
- Doja Cat’s X account was hacked to promote a scam token.
- The scam token reached a market cap of $1.65 million before plummeting.
- Investors lost over $1.63 million due to the scam.
- The hack involved negative posts about fellow rapper Iggy Azalea.
- Doja Cat and Iggy Azalea confirmed the hack was fraudulent.
On July 8, rapper Doja Cat’s X account was hacked and used to promote a scam token bearing her name. According to a report from celebrity news account Daily Trends, the scam token, “Doja Cat （DOJA）,” reached a market capitalization of $1.65 million after being promoted via the hacked account. However, the token’s value quickly plummeted, resulting in investor losses of over $1.63 million.
The Daily Trends posted an image of the now-deleted scam X post, which contained an image of Doja Cat wearing a suit of armor and brandishing a sword. Above the image was the message, “buy $DOJA or else,” followed by the token’s Solana contract address. Below the image was a negative statement about fellow rapper Iggy Azalea, who had recently launched her own celebrity memecoin, MOTHER.
The hack’s impact was swift and severe. In the following hour, the token’s price fell to $0.00007352, and at the time of publication, the token’s market cap was just $16,820. This sharp decline underscores the vulnerability of investors to scams promoted through high-profile accounts.
Key Insights for Investors
- Hacked Account: Doja Cat’s X account was compromised to promote a scam token.
- Rapid Value Decline: The scam token reached a market cap of $1.65 million before collapsing.
- Significant Losses: Investors lost over $1.63 million due to the scam.
- Celebrity Involvement: The hack involved negative posts about Iggy Azalea, adding to the controversy.
- Confirmation of Fraud: Both Doja Cat and Iggy Azalea confirmed the posts were fraudulent.
Conclusion
The hacking of Doja Cat’s X account to promote a scam token highlights the risks investors face in the cryptocurrency market. Despite the high-profile nature of the hack, the rapid decline in the token’s value underscores the importance of due diligence and caution when investing in new and unverified cryptocurrencies.
解説
- Hacking Incident: High-profile account hacks can lead to significant investor losses, emphasizing the need for security.
- Investor Vigilance: Investors should be cautious and conduct thorough research before investing in new tokens.
- Market Risks: The rapid decline of scam tokens highlights the volatility and risks inherent in the cryptocurrency market.