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.
🚨 🚨 HACK ALERT 🚨🚨@dogwifcoin X account has been compromised.
𝗗𝗢 𝗡𝗢𝗧 𝗖𝗟𝗜𝗖𝗞 𝗔𝗡𝗬 𝗟𝗜𝗡𝗞𝗦 𝗣𝗢𝗦𝗧𝗘𝗗 𝗧𝗛𝗘𝗥𝗘!
Stay Alert 👀
Stay Safe 🛡 pic.twitter.com/RO3wBKsfTb— Harpie (@harpieio) November 15, 2024
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.
Also Read: Top 3 Meme Coins to Watch If You Like Dogecoin
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.
The bigger lesson for crypto investors in 2026
The Dogwifhat hack shows that investors should not treat a post from an official-looking crypto account as proof that a token is legitimate. A hacked account may have the correct follower count, verification status and posting history, while the content itself is controlled by an attacker.
For crypto projects, the incident also underlines the need for stronger account-security procedures and rapid communication plans. For users, the safest approach is to verify token addresses through independent official sources rather than buying solely because a familiar account has promoted an asset.
In 2026, as Solana continues to support a large and highly active token-launch ecosystem, the lesson from the Dogwifhat hack remains relevant: when social attention can move markets within minutes, control of a trusted account can become a financial weapon.
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