Wiz Khalifa’s Twitter tale appears to be like to had been hacked in an strive to push a flawed coin onto unsuspecting followers.
In a since-deleted post, hackers frail Wiz’s tale to shill a original token, prompting speedy reactions from the crypto neighborhood.
On-chain investigator ZachXBT changed into the first to answer, warning customers, “Carry out no longer aquire this, his tale is hacked.” He added that, “It’s the identical scammer who hacked Andy Ayrey fair no longer too long ago.”
SIM swap attack results in main rip-off
Ayrey, the creator of Fact Terminal—a cryptocurrency bot powered by AI—changed into hacked fair days earlier than. His Twitter (X) tale changed into compromised, permitting hackers to promote a flawed meme token and pull off a wide pump-and-dump.
This present breach animated Wiz’s tale has deepened considerations spherical security, particularly given the suggestions hackers are the spend of to profit from excessive-profile accounts in crypto.
The hackers frail a SIM swap to take over Ayrey’s tale. A SIM swap lets hackers form support an eye fixed on of a victim’s mobile phone number, which they then spend to reset passwords and earn entry to linked accounts.
As soon as within the story, hackers promoted a token known as Limitless Backrooms (IB), hyping it ample to send its market cap soaring to $25 million in a topic of hours.
In this device, hackers in the starting up sold 124.6 million IB tokens for roughly $38,400. As the promotion on Ayrey’s tale triggered the worth to spike, they quick dumped their tokens, making off with $602,500 within forty five minutes.
After the damage changed into accomplished, all posts associated to the rip-off were wiped from Ayrey’s tale, nonetheless by then, it changed into too unhurried for affected investors.
The hack left Ayrey’s portfolio and the wider meme coin market in shambles. Fact Terminal, known for keeping hundreds and hundreds in meme coins, took a onerous hit. Unquestionably one of basically the most affected changed into GOAT, a Solana-based fully meme coin that had been gaining traction.
The token’s price plummeted by 34.5% following the hack. GOAT had been trading at a excessive of $0.8788 fair ten days prior nonetheless tanked to $0.4686, signaling how investor belief in meme coins took a blow attributable to this incident.
