Hackers hijacked the popular accounts of SpaceX and Starlink on X to end a scam promoting memecoin, the chain shows.
According to the chain monitoring platform Lookonchain, hackers work two of Elon Musk’s social media companies fed to get a memecoin interest they called SCATMAN and then the rag pulled the money.
The compromised accounts posted fraudulent advertisements, which lured victims. The robbers made off with the money before it could be withdrawn. SpaceX’s X account has 2 million followers while Starlink’s X account has 1.6 million followers.
When he promoted the brand, the hackers made 10 trillion SCATMAN. After buyers picked up the digital asset hackers dumped memecoin and replaced Ethereum with around $108,000.The price of ETH), a popular rug-pulling scheme.
Lookonchain also noticed that another wallet was participating in the scam. A hacker used this wallet to sell 59.28 million SCATMAN for $27,000 worth of ETH.
On-chain data shows the fastest movement of ETH in a short period of time. Security researchers overseeing the operation noted the speedy execution of the attack, highlighting vulnerabilities in high-profile social media accounts linked to major technology devices. The incident highlights the dangers of human engineering and account manipulation in the cryptocurrency space.
Ethereum is trading at $1,763 at the time of writing, down 3% in the last 24 hours.
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