Earlier today, the Twitter account of the France football forward, Kylian Mbappe, was hacked, causing lots of commotion with several controversial posts. The hacker posted about other footballers including Ronaldo and Messi, and also went ahead to promote a fake MBAPPE memecoin. Following the tweet, the price of the token skyrocketed and then crashed after a few hours.
Within this time, an investor reportedly lost more than $1 million after the token plummeted to zero a few minutes after he invested. Moreover, some other investors, who were quick to cash out, recorded substantial gains after investing a few dollars. The sad story was shared on X.
Investor Losses $1 Million to Fake MBAPPE Coin
According to a report shared by Lookonchain, a blockchain transaction tracker, an investor bought the MBAPPE coin after creating a new wallet. He spent 7,156 Solana (SOL) coins, valued at $1.03 million at the time, to buy the memecoin. Unluckily for him, the coin was rugged and its value went crashing less than an hour after he invested.
Consequently, he lost almost all his investment, now left with only $9,200. The coinâs chart on the trading platform dexscreener shows a long green bar that depicts when the coin surged in value and then followed by a flat line under zero.
Source: Lookonchain/X
The MBAPPE memecoin was deployed on the Pump.fun, a Solana-based memecoin platform that has been gaining traction over the past months. The quick rise in the value of the token underscores the influence of prominent figures (whether real or fake) on crypto assets. Investors are advised to always proceed with caution when they see such kind of ventures or projects promoted by celebrity accounts on social media.
Investors Profit Six Figures From MBAPPE Coin Scam
While the aforementioned investor lost a substantial part of his investment, other investors recorded staggering profits. Particularly, WuBlockchain reported on X that an investor invested 2 SOL (worth $286) in the coin and then sold it when the value increased to 1,398 SOL, valued at approximately $200,000. This investor bought the coin at the point when its value surged to tens of millions within a few minutes, cashing out 700x.
French football star Kylian Mbappe's Twitter account was hacked and released the token MBAPPE, which has now been deleted. The market value of MBAPPE tokens surged to tens of millions in a few minutes and then quickly returned to zero. A user bought 2 SOL (about $286) and sold itâŠ
â Wu Blockchain (@WuBlockchain) August 29, 2024
Also, another prominent memecoin trader recorded massive gains engaging in the MBAPPE token trade. As per a report from Lookonchain, this trader who frequently trades memecoins âlike buying lottery,â finally hits it big, securing a 4,330x profit. He bought the MBAPPE token with 0.2 SOL ($29), and in just 3 minutes, he cashed out 866.13 SOL ($125,160).
Notably, this investor has traded 251 memecoins over the past month and invested a fraction of 0.1 SOL, 0.2 SOL, or 0.3 SOL in each. Thus, he has a win rate of 35.46% and an accumulated profit of $126.7K according to Lookonchain.
Hacker Calls Messi âMidgetâ in Deleted Post
In an already deleted post, the hacker made jest of the Argentina football star, Messi, calling him a âmidget.â In the post, the hacker praised Ronaldo, calling him the âgreatest footballer of all time,â because Mbappe had previously said he grew up watching the Portuguese star.
The hacker also made some posts teasing a Manchester United transfer in 2028 after his Real Madrid deal ends. Chelsea and Tottenham Hotspur were also trolled in other tweets.
The post Kylian Mbappe Twitter Hack Led to Over $1 Million Loss in Fake MBAPPE Coin Scam appeared first on Coinfomania.
