- Ramaswamy’s X account hacked to promote a fake DOGE and USUAL partnership.
- Hackers claimed DOGE would reduce the U.S. deficit via a crypto collaboration.
- The price of USUAL coin surged briefly but dropped after the scam was exposed as fake.
Amerian politician and Department of Government Efficiency (DOGE) co-leader Vivek Ramaswamy’s X account fell victim to hackers today. The hackers used his platform to promote a fraudulent partnership between DOGE and a stablecoin issuer called USUAL. The unauthorized post claimed DOGE had established a “strategic partnership” with USUAL, describing it as “a leading issuer of fiat-backed (RWA) stablecoins.”
The fabricated announcement shared ambitious plans to reduce the federal fiscal deficit through cryptocurrency initiatives and governmental transaction efficiency. James Fishback, Azoria’s founder, quickly confirmed the security breach, stating he had spoken directly with Ramaswamy, who was locked out of his account. Fishback warned his followers about the scam nature of the announcement, helping to contain potential damage from the false information.
The fraudulent post had major market impact despite its brief visibility. USUAL, a coin, experienced a price surge from a 24-hour low of $1.16 to as high as $1.64 before falling to its price of $1.23. The hackers crafted a sophisticated message that attempted to use Ramaswamy’s recent appointment as co-leader of the Department of Government Efficiency alongside Elon Musk. The fake announcement was designed to appear credible by incorporating current political context and legitimate-sounding financial terminology.
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The compromised account posted that the supposed collaboration would “leverage cryptocurrency initiatives as a means to further our mission of reducing the federal fiscal deficit. The post also promised to “foster greater financial inclusion” through better financial solutions. These claims were particularly convincing given Ramaswamy’s actual role in government efficiency initiatives.
The incident has drawn attention to the broader issue of cryptocurrency-related social media scams targeting prominent public figures. Ramaswamy hasn’t released any official statement regarding the hack.
