Nasdaq’s official X account was seemingly hacked to promote a fake memecoin
Quick Take The hacker appeared to link a fake X account as a Nasdaq affiliate and used the official Nasdaq account to share its post promoting a newly created memecoin. Within a few hours, the memecoin’s market capitalization skyrocketed to $80 million, only to crash soon after.
The Nasdaq’s official X account was compromised when hackers used it to promote a fraudulent memecoin.
The hacker linked a fake X account as a Nasdaq affiliate and used the official Nasdaq account to retweet its post promoting a memecoin named STONKS created on the same day. The post has been removed, and the fake X account has been suspended.
The memecoin appeared to be a copycat of an existing memecoin of the same name on Solana, which owns the intellectual property of the meme.
The market capitalization of the fake STONKS memecoin surged to $80 million, only to crash soon after — according to DEXscreener .
This event fits into a pattern of high-profile X accounts being hacked to promote scam tokens, with previous incidents involving celebrities and institutions.
Nasdaq did not immediately respond to The Block’s request for comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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