TLDR

• Rapper Doja Cat’s X (formerly Twitter) account was reportedly hacked on July 8
• The hacker used the account to promote a Solana-based meme coin called “Doja Cat (DOJA)”
• The scam token reached a market cap of $1.65 million before crashing to $16,820
• Investors lost over $1.63 million due to the pump-and-dump scheme
• Doja Cat denied involvement via Instagram, stating it was “literally an imposter”

Rapper Doja Cat’s X (formerly Twitter) account was reportedly hacked on July 8. The breach resulted in the promotion of a Solana-based meme coin bearing her name, leading to significant financial losses for investors who fell for the scheme.

The hacker posted messages urging Doja Cat’s 5.6 million followers to “buy $DOJA or else,” accompanied by an image of the artist in armor wielding a sword.

The post also included the Solana contract address for the “Doja Cat (DOJA)” token. Additionally, the compromised account was used to make disparaging comments about fellow rapper Iggy Azalea, who recently launched her own celebrity memecoin called MOTHER.

The scam token experienced a dramatic surge in value following the unauthorized promotion.

According to data from DEXScreener, the coin reached a market capitalization of $1.65 million at its peak, with its price hitting $0.001656 in the first hour after launch. However, the token’s value plummeted just as quickly as it rose.

Within hours, the price had fallen to $0.00001682, resulting in a market cap of just $16,820. This rapid rise and fall led to estimated investor losses exceeding $1.63 million.

Doja Cat swiftly responded to the incident, taking to Instagram to inform her 24 million followers that the X posts were not from her. In a video statement, she emphatically declared, “It is not me! It is literally an imposter!” urging her fans not to believe the fraudulent posts.

This incident is part of a troubling trend in the cryptocurrency world, where celebrity social media accounts are targeted to promote pump-and-dump schemes.

Similar hacks have recently affected other high-profile figures, including actress Sydney Sweeney, wrestler Hulk Hogan, rapper 50 Cent, and the band Metallica. In each case, the compromised accounts were used to promote Solana-based meme coins, often resulting in significant financial losses for unsuspecting investors.

The proliferation of celebrity-linked meme coins, both legitimate and fraudulent, has raised concerns among legal experts.

Many warn that these tokens may attract class-action lawsuits and enforcement actions from the U.S. Securities and Exchange Commission (SEC). The volatile nature of these coins is evident in the fact that most decline by 90% or more within hours of launch, even when officially promoted by the celebrities they represent.

Iggy Azalea, whose own MOTHER coin was referenced in the hacked posts, responded to the incident on X, stating, “Get rugged if yall want but I’m cool w that girl irl so yall fucked up w that tweet hackers.” This response highlights the complex relationships between celebrities in the emerging world of personalized cryptocurrencies.

The post Doja Cat’s X Account Hacked: Investors Lose Millions in Crypto Meme Coin Scam appeared first on Blockonomi.

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