Celebrities' Social Media Accounts Targeted to Promote Meme Coins

By: Eva Baxter

In recent developments within the cryptocurrency industry, high-profile celebrities' social media accounts have been hacked or utilized to promote obscure meme coins, often resulting in significant temporary surges in the value of these tokens. The latest incidents involving rap superstar Doja Cat and legendary soccer player Lionel Messi highlight the growing trend of cybercriminals exploiting popular public figures to manipulate cryptocurrency markets.

Doja Cat's Twitter account was reportedly hacked and used to shill a Solana-based meme coin. This incident adds to a list of similar hacks targeting celebrities such as Hulk Hogan, 50 Cent, and Metallica, whose names were similarly used to promote various tokens. These actions suggest a coordinated effort by cybercriminals to exploit the massive following and influence of these celebrities to create artificial hype around specific meme coins.

In a similar vein, Lionel Messi's Instagram account was employed to promote an obscure meme coin, which subsequently saw a dramatic 350% surge in its value. The power of Messi's social media presence, coupled with the speculative nature of meme coins, prompted this significant but likely temporary increase in value. Such incidents expose the vulnerability of social media platforms to hacking and the potential consequences for both the celebrities involved and unsuspecting investors who might be drawn into these schemes.

These events underscore the importance of enhanced security measures for public figures' social media accounts and greater awareness among the public about the risks associated with investing in highly speculative assets promoted in this manner. As more celebrities become targets, the industry needs to consider more robust protections to safeguard both the reputations of these public figures and the financial well-being of their followers.

For more information on improving online security and understanding the risks of meme coins, you can visit reputable sources such as Coinbase or Binance Academy.