On February 5, scammers hijacked the X accounts of the Solana-based DEX aggregator Jupiter and former Malaysian Prime Minister Mahathir Mohamad to promote fake memecoins.
Jupiter Mobile’s official X account issued a warning to users, advising them against clicking on links or purchasing tokens promoted through their compromised main account. The post stated,
“The team is working on restoring access.”
Additionally, Jupiter’s co-founder, Siong Ong, reassured users that the platform’s programs are secure and protected by a multisignature setup that requires multiple access approvals, ensuring safety 24/7.
The now-deleted post on the hacked account reportedly advertised a scam token called MEOW, which allegedly reached a staggering $30 million market cap within seconds before collapsing after a rug pull. GeckoTerminal data confirms the token spiked to $8 million before plummeting by 98%, leaving its value at just $88,000.
Crypto venture capitalist and GM Capital founder, known pseudonymously as Beanie, commented on the incident:
“Traders lost millions instantly on this Jupiter account hack. Literally in a matter of minutes. It’s amazing how we trust these protocols with billions of dollars in liquidity but they’re not competent enough to protect their social media.”
Meanwhile, Mahathir Mohamad’s X account was also used to promote a fraudulent token, MALAYSIA, according to SlowMist founder Yu Xian. The scam saw the token’s market cap peak at $3.4 million before crashing to $153,000.
This incident follows a similar hack on November 3, 2024, when rapper Wiz Khalifa’s X account was compromised. The attackers used Khalifa’s account, with over 35.7 million followers, to promote a fake cryptocurrency called “WIZ.” The posts falsely claimed the token was an official project backed by Khalifa and his “team.” The fraudulent scheme briefly gained traction, with WIZ launching on the Solana-based platform Pump. fun and reaching a $3.4 million market cap within minutes. However, its value rapidly plummeted to under $28,000 as early investors sold off their holdings.
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