On November 14, the X account of memecoin Dogwifhat was hacked to promote newly created tokens on Solana. The attackers used the account to manipulate the prices of newly created tokens, including popwifnut (POPWNUT), muu (MUU), and DogWifDoge (WIFD).
The scammers altered the account’s bio and shared posts encouraging followers to invest in these tokens, providing contract addresses to facilitate purchases.
Community members quickly noticed the account’s compromised status, while web3 security firm Harpie confirmed the breach, advising users to steer clear of the posts.
According to data from DexScreener, MUU, a meme coin launched recently, experienced a sudden price surge following the fraudulent promotion, reaching an all-time high after a period of low trading activity. However, this spike was short-lived as the attackers liquidated their holdings, causing the price to collapse.
Similarly, WIFD and POPWNUT saw sharp increases in value, followed by rapid declines. Within six hours, both tokens lost over 83% of their value, with market caps falling to $12,000 and $37,000, respectively.
Dogwifhat developers regained control of the account soon afterwards, restoring the original profile and removing all traces of the fraudulent activity.
This event occurred just days after rapper Wiz Khalifa’s X account was hacked on November 3. That breach led to posts promoting “WIZ,” a fraudulent cryptocurrency falsely claimed to be endorsed by the rapper. The scheme briefly gained traction, with WIZ’s market cap reaching $3.4 million shortly after its launch on the Solana-based Pump.fun platform.
Like the Dogwifhat incident, WIZ’s value plummeted within an hour as early investors sold their holdings, dropping the market cap to under $28,000.
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