Mon, May 27, 2024 at 09:51

• 

  Joy

  • Hey Annie!

  • Did you hear about the latest crypto scam involving some big influencers on X (formerly Twitter)?

  • 
• Annie

  • Oh really?

  • What happened?😲

  
• 

  Joy

  • So, late Sunday, scammers targeted a popular crypto influencer known as GCR.

  • His account got hacked and the hacker posted predictions about the ORDI token, causing its price to surge briefly.

• Annie

  • Wow, that's crazy!

  • How did the hacker manage to do that?🤔

  
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• 

  Joy

  • GCR believes someone at X.com was bribed to provide his login credentials.

  • 

  • He was notified about potential bribes two months ago and even beefed up his security, but it looks like it wasn't enough.

• Annie

  • That's really concerning.

  • So, what happened to the ORDI token's price?

  
• 

  Joy

  • The price of ORDI climbed from around $40 to $44 after the hacker's post, but it quickly fell back to $40.

  • Luna 2.0 also saw a momentary surge of 274%!

• Annie

  • That's a huge spike!

  • Did GCR say anything after the hack?😮

  
• 

  Joy

  • Yeah, he confirmed the hack and asked his followers to ignore any promotional posts from his account.

  • He also highlighted the issue of internal security breaches at X.

• Annie

  • Internal security breaches?

  • That's a big deal.

  • What are other crypto experts saying about this?

  
• 

  Joy

  • Bitcoin developer Udi Wertheimer thinks this hack is part of a larger scam targeting celebrities and crypto influencers.

  • He warned everyone to be very careful, especially during long weekends when platform engineers are away.

• Annie

  • That makes sense.

  • Were there any other notable incidents like this recently?

  
• 

  Joy

  • Yes!

  • American rapper Rich The Kid's account posted a link to buy a new token called RICH, which quickly reached a market value of $90,000.

  • However, the post was deleted and no official statement was made confirming it was a hack.

• Annie

  • Interesting.

  • Any other celebrities involved?

  
• 

  Joy

  • American media celebrity Caitlyn Jenner's account promoted a new memecoin called JENNER.

  • The token's market value surged to $4.7 million, and many believe it was a hack too.

  • Jenner even promoted the coin again, telling followers to ignore influencers advising against it.

• Annie

  • This is all so wild!

  • What do you think is the motive behind these hacks?

  
• 

  Joy

  • Crypto analyst Miles Deutscher commented that GCR's hacker could have chosen a more believable micro-cap to pump for bigger gains but instead went for ORDI and LUNA2, resulting in only a 10% increase.

• Annie

  • Seems like the hackers aren't very strategic.😅 So, is this news good or bad for the market?

  
• 

  Joy

  • Honestly, it's pretty bad.

  • It highlights serious security issues within major platforms like X and undermines trust in the crypto market.

  • Investors might become more cautious, which could lead to reduced market activity.

• Annie

  • Got it.

  • Thanks for breaking it down, Joy.

  • This definitely sounds like a situation to keep an eye on.👀

  
• 

  Joy

  • To sum up, this article is considered a 😱Bearish for investors!!