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ZachXBT Investigation Links Memecoin Team to Hack of Crypto Influencer’s Account

On May 27, a fresh inquiry spearheaded by ZachXBT has linked the founders of a recently emerged memecoin to a cyber intrusion into a cryptocurrency influencer’s account, revealing a convoluted plot aimed at manipulating cryptocurrency values.

The investigation, helmed by the pseudonymous blockchain sleuth ZachXBT, revealed that the group behind CAT, a memecoin operating on the Solana blockchain, breached the Twitter account of crypto influencer Gigantic-Cassocked-Rebirth (GCR) on May 26. Their objective was to sway the prices of specific cryptocurrencies through deceitful tactics.

Crypto Influencer GCR’s Account Hacked By Memecoin Team According to Investigation

On the late hours of Sunday, the widely followed crypto influencer Gigantic-Cassocked-Rebirth (GCR) fell victim to a hacking incident on his X (formerly Twitter) account.

Exploiting GCR’s compromised account, the hacker promoted ORDI and Luna 2.0 tokens, causing brief surges in their prices. GCR promptly acknowledged the breach, advising his audience to disregard any promotional content from his channels.

However, ZachXBT’s investigation uncovered that the CAT memecoin team orchestrated the hack. According to ZachXBT, the scheme commenced with CAT’s coin launch on May 24, during which the team gained control of over 63% of the CAT supply. They subsequently sold over $5 million worth of CAT, dispersing the profits across various wallets. Further scrutiny revealed that a portion of the funds flowed into Hyperliquid for trading.

Remarkably, prior to the breach, the culprits initiated long positions totaling $2.3 million on ORDI (ORDI) and $1 million on Ether.fi (ETHFI).

In the aftermath of the breach, ORDI briefly surged from approximately $40 to $44 before retracting to $40, yielding the scammer a profit of roughly $34,000. Additionally, Luna 2.0 experienced a transient 274% surge. Although a subsequent post aimed to boost ETHFI, the market’s response deviated from expectations, resulting in a $3,500 loss for the attackers, prompting them to close the position.

“Scammers exhibit low IQ, evident from the botched execution,” remarked ZachXBT on the incident. “People allowed a scammer to exploit them for seven figures merely because of an expensive username and enigmatic posts. It’s time to cease granting meme coin promoters a platform.”

The extent of this group’s involvement in other similar attacks on crypto influencers in recent days remains unclear.

Celebrities’ X Accounts Targeted in SIM Swapping and Bribery Hacks

According to ZachXBT’s investigation, the breach was carried out through a SIM-swapping attack. This tactic involves scammers tricking a mobile carrier into transferring the victim’s phone number to a SIM card under the attacker’s control.

GCR suspects that an individual at X.com may have been bribed to grant access to their account, leading to the security breach.

“I was alerted two months ago by a source linked to Twitter about bribes being used to access my account, and I bolstered security then,” GCR stated. “But there’s no security if X employees are accepting money for administrative access.”

GCR later confirmed the breach and urged followers to disregard any promotional content.

Similarly, over the weekend, Caitlyn Jenner, the reality TV personality and former Olympian, announced the launch of her cryptocurrency token, JENNER, through a post on her X account. The token was developed using Solana’s memecoin platform, pump.fun. By Monday morning, JENNER had amassed a market capitalization of $37 million.

To address concerns about hacking, Jenner and her manager, Sophia Hutchins, posted videos on her X account to verify the authenticity of the memecoin. Despite these assurances, some users remain doubtful, suggesting that the videos could be deepfakes.

Likewise, rapper Rich The Kid promoted a memecoin called RICH through pump.fun links in now-deleted posts on X. On Monday morning, Rich The Kid released a video claiming that his X account had been compromised, leading to the unauthorized promotion of the RICH token.

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