As an experienced cybersecurity analyst, I find the latest incident involving Doja Cat’s Twitter account being hacked to promote a scam token named after her likeness (DOJA) deeply concerning. The speed at which unsuspecting fans and crypto enthusiasts invested in this token, only for it to drop significantly in value and leave them with worthless assets, is a stark reminder of the dangers lurking in the world of celebrity coins.

On July 8, the social media account of rapper and songwriter Doja Cat, who goes by the handle X on the platform, was taken over by hackers. During their unauthorized access, the cybercriminals capitalized on Doja Cat’s large following, numbering at approximately 5.6 million people, to peddle a fraudulent cryptocurrency token called DOJA. The hackers posted a message instructing fans to purchase this scam token under the threat of unspecified consequences and provided a Solana address for transactions. This post has since been removed from the platform.

Within an hour of being posted, DOJA’s market capitalization reached $1.65 million, enticing unsuspecting fans and speculators to buy the asset. However, just after that, the coin plummeted in value to $16,820, resulting in collective losses of approximately $1.63 million for investors.

Doja Cat made an announcement on Instagram that her Twitter account had been compromised. She clarified in a story post that any messages appearing there were not originating from her.

As a researcher studying cybercrime trends, I’ve come across an alarming pattern: hackers have been targeting celebrity accounts to promote scam tokens. These criminals manage to make vast sums of money within hours by convincing unsuspecting fans and crypto enthusiasts to invest in these tokens. However, the scammers only hold onto these projects for a short time before dumping them, leaving investors with worthless tokens in their hands. Essentially, it’s a scheme where people are tricked into investing in something that has no value, resulting in significant financial losses.

Recently, just like Hulk Hogan’s X account, other accounts have fallen victim to hacking for the same objectives. Notably, the fraudulent tokens propagated during these incidents were based on the Solana platform, which is a frequent characteristic of such tokens.

As an analyst, I would rephrase the given sentence as follows:

In June, Azalea’s MOTHER token project, which is a genuine initiative supported by Azalea and offers utility, generated significant buzz. Doja Cat’s hackers might have attempted to create chaos around Azalea to boost interest and swindle investors in the limited timeframe they required for their scam.

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2024-07-10 22:13