The X account of popular rapper Amala Ratna Zandile Dlamini, popularly known as Doja Cat, was reportedly hacked to promote a scam meme coin “DOJA”, resulting in investor losses of more than $1.6M.
The scam meme coin, named “DOJA,” saw its market capitalization surge to $1.65 million following promotion through the hacked account, as per Daily Trends, a well-known source of celebrity news.
However, it soon crashed to a market cap of just $16,820, causing substantial losses for investors.
Doja Cat Has Been Hacked On X She Explained In New Video The Moment She Saw That Her Account Got Hacked And Spreading pic.twitter.com/HMU9esEJol
— Daily Trends (@trends_dailyU) July 9, 2024
An image of the deleted scam post was shared, featuring Doja Cat in armor and encouraging followers to “buy DOJA or else.” Some other snippets of the deleted posts showed profanity used against fellow rapper Iggy Azalea, who launched her MOTHER token last month.
However, Doja Cat denied any involvement in the post, stating in a video, “It is not me. It is literally an imposter!”
Despite #warnings and obvious repeated occurrences, the #hack resulted in #investors losing more than $1.6 million.
As expected, the rapper said 'It's Not Me, It Is Literally An Imposter'
When will this celebrity-led #scam stop ?#50cent #Hulkhogan #Davido #SEC #Khamzat pic.twitter.com/vC9uszNhu9
— newsOcrypt (@newsOcrypt) July 10, 2024
This incident is part of a growing trend of celebrity social media accounts being hacked for promoting scam coins.
Last month, the social media account of Metallica, a renowned heavy metal band, was exploited to promote a Solana-based memecoin, leading to a market cap spike and subsequent crash.
The X account of rapper 50 Cent was compromised just a few days earlier to execute a cryptocurrency pump-and-dump scam.
Similarly, a Hulk Hogan-themed meme coin lost $15 million in market cap within minutes after the wrestling legend allegedly deleted social posts promoting the cryptocurrency.
