Jupiter X Account Hacked: $MEOW Memecoin Scam Targets Crypto Users

Jupiter X Account Hacked- Social Media Account Used to Promote Scam Tokens

Jupiter X Account Hacked– Jupiter, a Solana-based decentralized exchange (DEX) aggregator, recently faced a security breach when its official account on the social media platform X was compromised. The hack led to the promotion of fraudulent memecoins, resulting in significant losses for traders.

Jupiter Alerts Users to the Hack

On Wednesday, Jupiter Mobile’s X account warned users, “The main Jupiter Exchange account has been compromised,” urging followers not to click on any links. The team immediately started working on regaining control of the account. In a series of now-deleted posts, the compromised account pushed a memecoin with the ticker $MEOW, which seemed to be linked to the pseudonymous co-founder of Jupiter, Meow.

Traders Suffer Losses Due to Hack

The breach had a swift impact on traders. “Traders lost millions instantly on this Jupiter account hack … literally in a matter of minutes,” said Beanie, the pseudonymous founder of GM Capital, a crypto venture capital firm. The hack raised concerns about the security of social media accounts tied to crypto platforms, with Beanie adding, “It’s amazing how we trust these protocols with billions of dollars in liquidity but they’re not competent enough to protect their social media.”

Continued Compromise and New Token Promotion

Despite Jupiter’s efforts to mitigate the situation, the account remained compromised as of 9:15 p.m. ET. The hacker continued posting fraudulent content, including promotion for another token, $DCOIN. Multiple users on X reported losing their Solana tokens due to the hack.

At the time of writing, Jupiter had not responded to requests for comment from The Block regarding the incident. This event serves as a reminder of the vulnerability of social media accounts and the importance of vigilance in the crypto community.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.