On November 3, 2024, rapper Wiz Khalifa’s X account fell victim to a hacking incident that saw the promotion of a fraudulent memecoin named “WIZ” to his 35.7 million followers. The hackers posted a now-deleted message claiming that Khalifa was “working with my team to drop $WIZ for all the crypto fans.” This announcement generated significant buzz in the cryptocurrency community, showcasing the hackers’ ability to exploit the rapper’s considerable social media influence to draw attention to their malicious scheme.
The WIZ memecoin, launched on the Solana-based platform pump.fun, experienced a rapid rise in value, peaking at $3.4 million shortly after its release. However, this surge was short-lived; within an hour, the market capitalization of the token crashed to less than $28,000 as early investors rapidly sold off their holdings. As of the latest reports, the token is trading at approximately $8,400, illustrating the volatile nature of memecoins and the inherent risks for investors.
Further investigation by blockchain sleuth ZachXBT revealed that the same hacker had previously compromised the account of Truth Terminal developer Andy Ayrey just days before Khalifa’s hack. This earlier incident involved the promotion of various fraudulent memecoins, resulting in substantial profits for the attackers. ZachXBT warned his followers about the connection, urging them not to invest in the WIZ token due to the malicious nature of the operation. The repeated patterns of these attacks highlight the growing trend of targeting high-profile accounts to execute scams within the cryptocurrency space.
As the dust settles on this incident, questions remain regarding the security of high-profile social media accounts and the broader implications for the cryptocurrency community. The rapid escalation of scams exploiting the trust of fans and followers serves as a stark reminder of the vulnerabilities present in the digital landscape. Khalifa’s fans and potential investors in the WIZ token are left navigating the aftermath of this hacking incident, underscoring the need for greater awareness and security measures in the ever-evolving world of cryptocurrency and social media.
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