Wiz Khalifa’s X (formerly Twitter) account was hacked, with attackers promoting a fake memecoin called $WIZ. This incident follows a string of celebrity-targeted hacks aimed at luring unsuspecting followers into fraudulent crypto schemes.
The rapper’s account was compromised to make it appear as if Khalifa himself was endorsing $WIZ, a memecoin supposedly linked to his name and brand.
The hackers posted messages suggesting a partnership with Khalifa, creating a sense of legitimacy and urgency to invest in the token. Many fans, believing in the authenticity of the posts, quickly bought into $WIZ.
The token saw a rapid increase in value, hitting a reported $3.4 million market cap within an hour. However, as typical with “pump-and-dump” scams, the valuation plunged just as quickly, leading to significant losses for those who had invested.
Blockchain investigator ZachXBT, known for his work in identifying crypto scams, traced the incident to a pattern seen in previous account hacks.
He highlighted how this scam followed the same script as previous ones, including one involving TruthGPT’s co-founder, who also faced a similar account takeover.
This tactic of hacking celebrity accounts and leveraging their followers for fraudulent promotions has been increasing in frequency.
With celebrities often having millions of followers, such incidents allow scammers to quickly gain a large audience’s trust, enticing fans with tokens that promise high returns.
This incident highlights the critical need for heightened security on social media, particularly for high-profile accounts with massive followings.
Users are advised to verify the authenticity of any crypto-related promotions, especially those tied to public figures, and to look for official statements before engaging in investments. Enhanced awareness and skepticism can prevent followers from falling victim to such scams.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your research before investing in any cryptocurrency.
