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The Rise of Social Media Hacks in Crypto Scams
The cryptocurrency industry has seen a troubling rise in high-profile social media hacks, where attackers compromise the accounts of influential figures to promote fraudulent memecoins. These incidents deceive unsuspecting investors, causing financial losses and damaging the reputations of those targeted. As hackers refine their techniques, it has become increasingly important for investors to stay informed and cautious.
Notable Crypto Scam Incidents
Nick Robinson’s Account Hacked for Fake Memecoin Promotion
In February 2025, BBC broadcaster Nick Robinson's X (formerly Twitter) account was hijacked to falsely announce the launch of a cryptocurrency called $TODAY on the Solana blockchain. The fraudulent promotion misled his followers into believing he was behind the project, sparking widespread concern about security vulnerabilities on social media.
Kylian Mbappé’s Social Media Compromised for Scam Token
Football superstar Kylian Mbappé's X account was taken over by hackers who used it to promote $MBAPPE, a fraudulent memecoin. This scam token quickly gained traction, reaching a market capitalization of $460 million before being exposed as a pump-and-dump scheme.
Drake’s X Account Used to Promote a Fraudulent Memecoin
In December 2024, rapper Drake’s X account was hijacked to push a Solana-based memecoin called $ANITA. The scam generated over $5 million in trading volume before it was identified and removed, demonstrating the power that celebrity endorsements—whether real or fabricated—can have on crypto markets.
Zach Witkoff’s Account Used to Endorse Fake “BARRON” Token
Hackers also targeted World Liberty Financial co-founder Zach Witkoff, using his social media presence to promote a scam memecoin called BARRON. Even after the fraudulent posts were removed, the token’s price remained relatively stable, highlighting the continued risks posed by these types of schemes.
The Impact of Crypto Social Media Hacks
These incidents have far-reaching consequences for the cryptocurrency community:
- Investor Losses – Many investors trust influencer endorsements and suffer financial losses when scam tokens collapse.
- Erosion of Trust – These scams damage confidence in both social media platforms and the crypto industry as a whole.
- Regulatory Scrutiny – Authorities are increasingly cracking down on fraudulent activities, leading to potential regulatory changes that could reshape the crypto landscape.
How to Protect Yourself from Crypto Scams
To avoid falling victim to social media-driven crypto scams, consider the following precautions:
Verify Announcements
Always cross-check cryptocurrency endorsements by influencers with official sources before making any investment decisions. If a project appears out of nowhere with an unexpected celebrity endorsement, it may be a scam.
Strengthen Social Media Security
Influencers and key figures in the crypto industry should implement two-factor authentication (2FA) and other security measures to prevent unauthorized access to their accounts.
Stay Informed
Keeping up with crypto security news is crucial. Subscribe to reputable news sources and platforms like Token Metrics to stay ahead of potential threats.
Stay Updated with Token Metrics
The rise of social media hacks promoting fraudulent memecoins serves as a stark reminder of the importance of due diligence in crypto investing. Follow Token Metrics and subscribe to our newsletter to receive expert insights, market updates, and security tips to help you navigate the evolving crypto landscape safely.
By staying informed and vigilant, investors can protect themselves from falling victim to these deceptive schemes and make smarter investment decisions in the ever-changing world of cryptocurrency.
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