Nasdaq’s Official X Account Compromised to Promote Fraudulent Memecoin
The official X account of Nasdaq was compromised and used to promote a fraudulent memecoin, causing a sudden surge in the token’s value. The compromised account shared a post from an affiliate claiming to promote a memecoin named STONKS, which appears to be a copycat of an existing token on the blockchain. The fraudulent post has since been deleted, and the fake account has been suspended.
The fake memecoin’s market capitalization surged to a record high of around $80 million before plummeting, according to data from Dexscreener. Nasdaq Inc did not respond to a request for comment.
This incident is a common tactic used by hackers and scammers, who impersonate celebrities or accounts with large followings to promote fraudulent crypto tokens.
