Nasdaq’s X account got hacked to hype a fake memecoin, STONKS, hitting $80M market cap briefly before crashing hard.
The official X account of Nasdaq got hacked, and what unfolded looked completely like a plot from a cybercrime movie. Using the account, the hackers began shilling a memecoin called STONKS by linking it to a fake affiliate account, hyping the token as the next big thing in the market.
Turns out, STONKS was a ripoff of an already existing Solana-based memecoin with the same name, and the original meme’s IP wasn’t even theirs. Still, the fake token went from zero to an $80 million market cap within minutes of launching—talk about wild. But the hype didn’t last long. Just a few days later, its value plummeted, leaving FOMO traders with nothing but regret, according to DEXscreener stats.
This isn’t the first time hackers have pulled this stunt. Hijacking high-profile accounts on X has become a thing lately. Big names, businesses, and even institutions are getting hit, losing money and reputation in the process.
Hitherto, Nasdaq has had absolutely nothing to say about the breach, but this mess is another reminder: secure your accounts! If big dogs like Nasdaq can get hacked, anyone can. Slap those passwords with a raise and add two-factor authentication. Stay safe, fam!
Also Read: Solana Stablecoin Supply Skyrockets 57% Following $TRUMP Token Debut