December 16, 2024
Drake, the world famous rapper, had his X (formerly known as Twitter) account hacked to promote a fake meme coin.
The now-deleted scam post underscores the growing number of scams targeting high-profile accounts on the platform.
Drake's Account Hack Highlights Rise in Crypto Scams on X
On December 14, blockchain investigator Zach XBT revealed the hack, explaining that Drake's X account was exploited to advertise a scam meme coin called "Anita."
The hackers falsely claimed that the coin was developed in partnership with Stake, a gambling company that Drake has publicly partnered with since 2022. The post included a smart contract address and promotional materials, giving the scam a semblance of credibility.
Drake’s known interest in cryptocurrencies likely added weight to the scam. However, the fraudulent content was removed and the account associated with the meme coin was suspended.
Market watchers noted that the incident highlights a worrying increase in crypto scams on X. Over the past month, several high-profile accounts affiliated with organizations such as the Cardano Foundation have been exploited. These incidents often aim to create false legitimacy for fraudulent tokens or fake airdrops.
Furthermore, blockchain security firm Scam Sniffer noted that fake cryptocurrency-related accounts on X have surged to more than 300 per day, up from 160 in November. The company noted that these scammers often impersonate influencers to lure users into fraudulent Telegram groups.
Once inside, victims are directed to verify their identity using a bot known as OfficialSafeguardBot. This bot uses social engineering tactics to create urgency and trick users into executing malicious commands.
During the verification process, the bot secretly injects malicious code into the victim’s clipboard. If executed, this code installs malware designed to access cryptocurrency wallets and steal sensitive information. According to Scam Sniffer, this malware has been reported by VirusTotal and has already led to several confirmed thefts of private keys.
This phenomenon reflects a new and more dangerous phase of cryptocurrency fraud, combining phishing, malware distribution, and social engineering. Users are urged to remain vigilant and avoid interacting with suspicious cryptocurrency-related offers or accounts.