⁠Memecoin Team #CAT Linked to GCR Hack, ZachXBT Reveals

According to on-chain researcher, the creators of the CAT memecoin hacked crypto influencer GCR to manipulate some coin prices

An investigation has linked the team behind a newly launched memecoin to the recent hack of a cryptocurrency influencer's account.

An analysis by pseudonymous researcher ZachXBT revealed that Sol's team—creators of the Solana-based CAT memecoin—compromised the X account of cryptocurrency influencer Gigantic-Cassocked-Rebirth (GCR) on May 26, with the intention of manipulating the price of specific currencies.

The team was reported to have rigged its own coin flip on May 24 to gain control of over 63% of CAT's supply. More than $5 million worth of the CAT memecoin was then sold, with the proceeds split between multiple wallets.