An X account hacking spree has fueled a successful pump-and-dump scheme for the $HACKED Solana token, with people rushing to buy the coin.
The hacked accounts include MoneyControl (1.4 million followers), People Magazine (7.8 million), and even EUinmyRegion (an account operated by the European Commission), with close to 100K followers.
The hacking spree started at approximately 2:00 PM ET, with hundreds of X accounts hacked to post a tweet about pumping the $HACKED token.
All of the posts are identical, stating, "THIS IS HACKED ACCOUNT! INTRODUCING $HACKED ON SOLANA on each account we hack we publish the token address so we pump it and make profits together."
The cyberattack is promoting a cryptocurrency token named $HACKED on the Solana blockchain, and the marketing campaign appears to be working.
When the hacks were first disclosed, the token had only 42 token holders with a market cap of approximately $5,000. When this story was published, the token had 436 owners, and the market cap had increased to $166,175.57.
However, the market is fluctuating wildly as people take profits in the pump and dump.
It's not clear how the hackers compromised these X accounts, but it may have been through a compromised API key or third-party apps linked to the accounts.