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Celebrity Instagram Accounts Hacked to Pump Fake Solana Meme Coin

Key Takeaways

  • ​Instagram accounts for Adele, Future, Tyla, and Michael Jackson were hacked to promote a Solana meme token falsely linked to Future’s brand;
  • The token briefly reached a $900,000 market cap before its creator sold 70% of the supply, crashing the value to around $20,000;
  • The person behind the dump earned over $49,000 in SOL, but none of the affected celebrities have made public comments so far.

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Celebrity Instagram Accounts Hacked to Pump Fake Solana Meme Coin

Several Instagram profiles, which belong to Adele, Future, Tyla, and the estate of Michael Jackson, were recently taken over and used to promote a Solana SOL $187.17 -based meme coin.

The cryptocurrency appears to have no real connection to any of the artists involved.

During the breach, the attacker shared posts, since removed, that showed an image generated by artificial intelligence (AI) resembling rapper Future holding a token marked "FREEBANDZ".

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That name is associated with Future’s record label and fashion brand, which may have added to the confusion around the token's legitimacy. However, there is no evidence that either the artist or his brand is connected to the token.

The token was launched on Pump.fun, a Solana platform known for creating meme tokens. After its release, the token's market capitalization briefly climbed to nearly $900,000.

That rise ended when the creator, using a wallet with an address ending in "zcmPHn", sold 700 million tokens in one transaction. This represented 70% of the token's total supply and caused the value to drop steeply, which eventually settled around $20,000.

From that sale, the individual behind the dump gained 251.57 SOL, equivalent to over $49,000 based on Solana’s current price.

None of the affected artists had addressed the situation publicly, either on Instagram or on X.

Recently, cybersecurity firm CTM360 reported that scammers are running a campaign called "ClickTok". What is it? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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