According to Odaily, an investigation by ZachXBT has revealed a connection between the 'Sol' memecoin team and a recent hack on GCR's social media. Prior to the cyber attack, an address associated with the memecoin team opened a long position on Hyperliquid with $2.3 million ORDI and $1 million ETHFI. The 'Sol' team targeted the launch of their CAT, controlling 63% of the supply and profiting $5 million, which was then transferred to multiple wallets and cross-chained.
Through a timeline analysis, multiple addresses on Ethereum and Arbitrum linked to the team were identified. One such address, 0x5e…adc8, opened a long ORDI position at UTC 5:45-5:46 pm. At UTC 5:55 pm, the GCR Twitter account was hacked and a post about ORDI was published, causing a price surge. Subsequently, 0x5e…adc8 closed the ORDI long position, profiting $34,000. GCR issued a theft warning from another account. The hacker later posted about ETHFI, but 0x5e…adc8 closed the position at a loss of $3.5k.
This investigation highlights the potential risks and vulnerabilities associated with cryptocurrency and social media platforms. It also underscores the importance of robust security measures to protect against such cyber attacks.
