Kylian Mbappé had his account stolen: A trader lost $1 million!

A trader who didn't realize the Real Madrid player's account was hacked lost more than $1 million in just one hour.

The risks of celebrity-linked cryptocurrencies have been highlighted after a trader lost more than $1 million on a fake MBAPPE token. An unknown trader invested 7,156 SOL ($1.03 million) in the token shared from Kylian Mbappé’s X account. But things didn’t go as planned.

Onchain analytics platform lookonchain intelligence firm wrote:

“Someone created a new wallet and spent 7,156 SOL ($1.03 million) in a single transaction to buy a memecoin called MBAPPE, which is currently worth just $9.2 thousand. This person lost over $1 million in just 1 hour!”

The multimillion-dollar loss shows that hackers continue to target celebrities’ social media accounts. In early August, TrumpCoin (DJT), a memecoin themed after President Trump, was up 95 percent.

The investor purchased $1 million worth of fraudulent cryptocurrency shortly after Mbappé’s X account was hacked and posted a message confirming the fake cryptocurrency. The hacker’s post of the fraudulent token was later deleted from X. Some leading cryptocurrency companies have warned against the fraudulent token.