Doja Cat’s X Account Hacked to Promote Scam Token “$DOJA”

Doja Cat’s X account was hacked to promote a scam crypto token, “$DOJA,” leading to significant financial losses for investors.

Points

• Doja Cat’s X account hacked to promote “$DOJA” scam token.
• The token’s value surged briefly before plummeting, causing significant investor losses.
• Iggy Azalea confirmed the hack and warned followers.
• The incident highlights the risks of crypto scams and the importance of vigilance.

In a shocking turn of events, rapper Doja Cat’s X account was hacked on July 8, 2024, to promote a scam crypto token named “$DOJA.” The hacked account posted an image of Doja Cat in armor, urging followers to buy the token with the message “buy $DOJA or else,” followed by a Solana contract address.

The Scam Unfolds
The fraudulent promotion quickly gained traction, causing the token’s market capitalization to peak at $1.65 million shortly after the post. However, this surge was short-lived. Within hours, the value of “$DOJA” plummeted to $16,820, resulting in over $1.63 million in losses for investors.

Confirmation from Iggy Azalea
Fellow rapper Iggy Azalea confirmed the hack and warned followers about the scam. She emphasized her real-life friendship with Doja Cat, making it clear that the posts were not legitimate. Azalea’s tweet read, “Get rugged if yall want but I’m cool w that girl irl so yall f**d up w that tweet hackers

Market Reaction and Impact
The scam’s impact was significant, as the token’s value rapidly declined. According to data from DEXScreener, the “Doja Cat” （DOJA） token on the Solana blockchain reached a high of $0.001656 within the first hour of its launch. With a total supply of 1 billion coins, this peak price implied a market capitalization of $1.656 million. However, in the following hour, the token’s price dropped dramatically to $0.00002413, causing substantial losses for investors.

解説

• Scam Awareness: This incident underscores the importance of vigilance in the crypto market. Investors must be cautious about promotions, especially those involving celebrity endorsements, which can be exploited by hackers to create fraudulent schemes.
• Crypto Market Risks: The rapid rise and fall of the “$DOJA” token highlight the volatile nature of the cryptocurrency market. Sudden price movements, particularly in lesser-known tokens, can result in significant financial losses.
• Security Measures: Social media platforms and crypto exchanges need robust security measures to prevent such incidents. Users should enable two-factor authentication and be wary of unexpected promotions.
• Community Response: The quick confirmation from Iggy Azalea and other influencers helps mitigate the damage by alerting the community. Such responses are crucial in reducing the spread of misinformation and protecting investors.

The hacking of Doja Cat’s X account to promote a scam token serves as a stark reminder of the risks in the crypto space. Investors should always perform due diligence and remain skeptical of too-good-to-be-true opportunities.