ZachXBT Investigation Links Memecoin Team to Hack of Crypto Influencer's Account
ZachXBT Investigation Links Memecoin Group to Hack of Crypto Influencer’s Account
A novel investigation led by ZachXBT on on May per chance per chance per chance simply 27 implicated the creators of a brand unique memecoin in hacking a crypto influencer’s myth, exposing a posh contrivance to govern cryptocurrency prices.
The probe, performed by the pseudonymous blockchain investigator ZachXBT, uncovered that the group within the back of CAT, a Solana-essentially essentially based completely memecoin, hacked the Twitter myth of crypto influencer Mountainous-Cassocked-Rebirth (GCR) on May per chance per chance per chance simply 26. Their procedure used to be to e book the prices of optimistic cryptocurrencies thru false means.
Crypto Influencer GCR’s Account Hacked By Memecoin Group Consistent with Investigation
On Tiresome Sunday, current crypto influencer Mountainous-Cassocked-Rebirth (GCR) used to be hacked on his X (formerly Twitter) myth.
1/ An investigation into how the @sol ($CAT) meme coin group is hooked as a lot as the @GCRClassic hack from final night.
Minutes earlier than the hack an tackle tied to them opened $2.3M ORDI & $1M ETHFI longs on Hyperliquid.
Let’s dive in. pic.twitter.com/009BdPBfM1
— ZachXBT (@zachxbt) May per chance per chance per chance simply 27, 2024
The hacker gentle GCR’s myth to promote ORDI and Luna 2.0 tokens, ensuing in temporary designate hikes. GCR later confirmed the breach, urging his followers to brush apart any promotional explain from his channels.
ZachXBT’s investigation printed that the group within the back of CAT memecoin orchestrated the hack, nonetheless. ZachXBT infamous that the contrivance started with their coin birth on May per chance per chance per chance simply 24, wherein the group obtained control of higher than 63% of the CAT provide. Subsequently, they equipped over $5 million charge of CAT, distributing the earnings in some unspecified time in the future of a pair of wallets. Extra diagnosis confirmed that some funds were funneled into Hyperliquid for trading.
6/ On May per chance per chance per chance simply 26 at 5:55 pm UTC a hacker from @GCRClassic compromised myth made a put up about ORDI inflicting the value to spike.
0x5e3 closes the long from 5:56 pm UTC to 6 pm UTC for a profit of ~$34K pic.twitter.com/uYIayqM537
— ZachXBT (@zachxbt) May per chance per chance per chance simply 27, 2024
Critically, earlier than the hack, the perpetrators opened long positions charge $2.3 million on ORDI (ORDI) and $1 million on Ether.fi (ETHFI).
Following the hack, the value of ORDI temporarily climbed from around $40 to $44 earlier than falling back to $40, with the scammer securing a profit of roughly $34,000. Moreover, Luna 2.0 skilled a temporary 274% amplify. A subsequent put up used to be shared to enhance ETHFI, nonetheless the market didn’t respond as expected, ensuing in a $3,500 loss for the attackers, who closed the location.
“Scammers are low-IQ, as evidenced by the dreadful execution,” ZachXBT commented on the incident. “Of us let a scammer farm them for 7 figs appropriate on myth of they purchased an pricey username and made mysterious posts. End giving meme coin callers a platform.”
It’s unclear whether this community is within the back of an growth of equal assaults on crypto influencers in contemporary days.
Celebrities’ X Accounts Centered in SIM Swapping and Bribery Hacks
Consistent with ZachXBT’s findings, the breach used to be facilitated by a SIM-swapping assault. The contrivance in which involves scammers deceiving a mobile carrier into transferring the victim’s phone number to a SIM card managed by the attacker.
GCR believes that any individual at X.com would per chance well want been bribed to originate internet entry to to his myth, ensuing within the safety breach.
“Became notified 2 months within the past by any individual affiliated with Twitter that bribes had been made to internet entry to my myth, and beefed up safety then,” GCR acknowledged. “But there’s no such thing as a security if X workers rob money for admin internet entry to.”
GCR later confirmed the hack, asking followers to brush apart any promotional posts.
Equally, late Sunday, Caitlyn Jenner, the truth TV megastar and Olympic athlete, announced the birth of her cryptocurrency token, JENNER, through a put up on her X myth. The token used to be created the exercise of Solana’s memecoin platform, pump.fun. By Monday morning, JENNER had achieved a market capitalization of $37 million.
In accordance with hacking concerns, Jenner and her manager, Sophia Hutchins, posted videos on her X myth to confirm the memecoin’s legitimacy. No matter these assurances, some users are smooth skeptical, suggesting the videos will be deepfakes.
Equally, Rapper Rich The Kid promoted a memecoin, RICH, through a pump.fun link in now-deleted X posts. On Monday morning, Rich The Kid launched a video claiming his X myth had been hacked, ensuing within the unauthorized promotion of the RICH token.
Source : cryptonews.com
