American actress Sydney Sweeney's X account was recently hacked to promote a crypto token named after her, resulting in a pump-and-dump scheme. The Solana-based token SWEENEY quickly gained over $10 million in trading volume within hours of its launch, fueled by promotional posts from Sweeney's compromised account. The token's value plummeted by 90% shortly after, with the market cap dropping to $1.2 million. The hacker, linked to a Telegram channel, claimed responsibility for the breach and hinted at targeting more celebrities. This incident follows a trend of minor celebrities endorsing crypto tokens, with mixed results. Notable figures like Caitlyn Jenner and Floyd Mayweather have also been involved in promoting memecoins. Despite initial success, these tokens have experienced significant market cap fluctuations. The rise of celebrity-endorsed tokens poses risks, as seen in the case of Sweeney's hacked account promoting the SWEENEY token. Read more AI-generated news on: https://app.chaingpt.org/news