By Jose Guillermo – Sunday Punch
A recent hacking spree on X (formerly Twitter) sparked a pump-and-dump scheme involving the $HACKED Solana token, leading to chaos as users scrambled to buy the coin.
Hackers took control of high-profile accounts with millions of followers, using their reach to promote the cryptocurrency and temporarily boost its value.
Among the hacked accounts were big names like MoneyControl, People Magazine, and even EUinmyRegion, an official European Commission account. In a coordinated attack, these accounts posted misleading tweets encouraging users to invest in the $HACKED token, promising quick profits.
The hack began around 2:00 PM ET, affecting hundreds of accounts almost simultaneously. The compromised accounts posted identical tweets about the token, claiming it would rise in value and urging followers to invest early.
The attack wasn’t limited to Western accounts—major media outlets in the Philippines like ABS-CBN News and GMA Network also fell victim, along with global organizations like the World Health Organization and Lenovo India. Even British politicians and popular UK TV shows were targeted.
The $HACKED token, which operates on the Solana blockchain, quickly saw a surge in holders and market value due to the hype created by the hacked accounts.
However, this token was not officially linked to Solana; it was created to exploit interest in the platform. In just a short time, the token’s market cap ballooned from $5,000 to over $160,000 as people rushed to buy in, but the market remains unstable as investors cash out.
While the tweets have been removed and the attack is under investigation, the incident highlights the vulnerabilities in social media and the dangers of pump-and-dump schemes. It serves as a cautionary tale for cryptocurrency investors about the risks of falling for hype generated by malicious actors online.