- Jupiter X account was allegedly hacked, and scam tokens were promoted.
- The team warned traders from clicking any links from the scam post or to copy-paste any CAs.
- Many traders claimed to have lost their Solana tokens after engaging with the scam post.
JupiterDAO has once again fallen victim to a phishing attack. On February 6, the official X account of Jupiter Exchange was hacked, leading to a sharp decline in the $JUP token price. Within the first hour after the announcement, the token dropped 12%, while trading volume surged 300%, reaching 1.5 million JUP tokens.
Following the attack, the team warned traders not to click any links from the scam posts, thereby protecting users from any actions that might compromise their wallets.
In a series of now-deleted tweets, the hacked Jupiter account promoted a scam meme coin with a ticker $MEOW., which seemingly was stolen from Jupiter’s co-founder pseudo name, Meow.
Consequences of these Scams
Pointing out the consequences of the scam, an X user stated that traders lost millions within minutes. However, this is not the first time Jupiter Exchange’s X account has been hacked. Several users reported falling victim to a previous memecoin scam that was also posted through their account.
In the wake of these scam posts, many Solana (SOL) holders claimed to have lost their Solana tokens, after engaging with the scam posts. These incidents have tarnished Jupiter Exchange’s reputation among crypto traders, sparking backlash from the crypto community over its lack of preventive measures.
Related article: Jupiter Acquires Moonshot, Boosting DeFi, and Memecoin Trades
Account Retrieved
Despite the chaos, the account was successfully retrieved within five hours. Confirming the recovery, the team assured users that the customer funds were not in danger and that the issue was isolated to X alone. Although the account has been retrieved, frustrated users demanded their loss of SOL coins.
Apart from Jupiter, other recent victims include Visa’s Facebook account, actor Dean Norris’s X account, and Nasdaq’s X accounts, raising concerns over market security. These scams contribute to the fears of a hacking spree that could undermine the trust among traders and the overall crypto market.
