Hackers gained access to the Delhi Capitals’ X account and used the well-known cricket team’s social media following to promote a fraudulent coin built on Solana. The Delhi Capitals, an Indian Premier League cricket team, were the target of an X breach in which hackers gained access to the account to promote a Solana-based token to the team’s more than 2.6 million followers under the ticker HACKER.
In the now-deleted X tweet, the bad actors asserted responsibility for the attack while proclaiming their intentions to “make profits” by targeting other X accounts in an attempt to boost the price of the HACKER token, which was generated a little more than a day ago according to DEX screener data.
The attacker’s tactic is typical of these kinds of operations, in which scammers use the substantial followings of well-known X accounts to advertise cryptocurrency tokens. They rig the token price artificially, then sell off their pre-purchased holdings soon after, taking advantage of gullible investors who rush in to take a quick profit at a loss.
The perpetrators kept posting identical messages, revealing the contract address for the hoax token and using the phrase “search $HACKER to see our strength.” The Delhi Capitals management took back control of their account shortly after.
But the attacker’s attempts seemed futile, and there was little interest in the HACKER token. The hoax token had a market cap of just $4,300 as of the time of writing, and it had only completed 46 transactions, the majority of which appeared to have been carried out soon after the token’s creation by the developers themselves.
Final Thoughts
The hacking of the Delhi Capitals‘ X account to promote a fraudulent Solana-based token underscores the growing trend of scammers exploiting the social media presence of popular entities for financial gain. By targeting a well-known Indian Premier League cricket team with over 2.6 million followers, the attackers attempted to manipulate the token price through artificial promotion. This highlights the vulnerability of high-profile accounts and the ease with which bad actors can exploit unsuspecting followers, capitalizing on the buzz around cryptocurrency for fraudulent schemes.
Fortunately, the attack appeared to have minimal impact, as there was little interest in the promoted HACKER token, which had a market cap of only $4,300 and completed few transactions. While the Delhi Capitals quickly regained control of their account, the incident serves as a reminder of the importance of robust social media security measures for organizations with large followings. It also highlights the need for continued awareness among users to avoid falling victim to such scams, where malicious actors seek to profit from artificial hype.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.