In a shocking cyberattack, the official Nasdaq account on X (formerly Twitter) was hacked, with the perpetrators promoting a fake memecoin named STONKS. The hackers linked a fraudulent affiliate account to Nasdaq’s profile, using it to retweet promotional content about the scam token.

Launched the same day, the fraudulent STONKS token appeared to mimic an existing memecoin on Solana, which holds intellectual property rights for the meme. Despite being a scam, the token’s market cap skyrocketed to $80 million within minutes, only to collapse days later, according to DEXscreener.

This breach underscores a disturbing trend where hackers exploit high-profile accounts to promote fraudulent tokens. Such attacks have targeted celebrities, businesses, and institutions, causing severe financial and reputational damage.

As of now, Nasdaq has not issued a statement about the incident. However, this breach serves as a stark reminder of the need for stronger cybersecurity, especially for accounts with massive reach and influence.

#Cryptoscam #CyberSecurity