Hackers Impersonate Drake to Shill $ANITA Memecoin on X, Garnering $5M in Trading Volume

Hackers targeted Canadian rap sensation Drake on his X account to advertise a Solana-based memecoin called $ANITA, which used the animated alternate ego of Drake-Anita Max Wynn-as a means of touting the token

Hackers used Canadian rap star Drake's X account to promote a Solana-based memecoin called $ANITA, using Drake's animated alter ego, Anita Max Wynn, to shill the token, which they claimed was launched by Stake, a crypto betting platform that has reportedly been working with Drake since 2022.

Hackers targeted Drake's massive following of over 39 million, posting messages that included the memecoin's contract address and branding, tying it to his “Anita Max Wynn Tour.” The name itself played on the gambling term “I need a max win,” further misleading potential investors.

The scam briefly worked, with trading volume for $ANITA at one point reaching $5 million. But the jig was soon up, leading traders to disengage. According to DexScreener, the token started trading with high activity as soon as the posts went live, and X eventually suspended the account that was posing as the project's official page.

Celebrity crypto scams on the riseThis incident marks the latest in a string of high-profile X accounts being used to scam people into buying cryptocurrencies. Besides this, other personalities like Cardi B, Doja Cat, and Metallica have also had their accounts hacked, highlighting the vulnerability of famous accounts to security breaches.

Drake has been in the news of late for his crypto activity, particularly his open endorsement of Bitcoin. However, the musician is no stranger to controversy himself and has previously faced criticism over a reported loss of $2 million in a cryptocurrency exchange with a social media influencer.

The $ANITA token, despite being around for a while, had its brief moment in the limelight, showcasing the power of social media buzz, even when it's illegitimate. This should serve as a reminder to crypto investors to be wary of sudden endorsements, especially when unverified claims are involved.

Scammers continue to use the tactic of leveraging celebrity clout, with hacked accounts being used to make scam projects appear legitimate. It's a tactic that has been around for a while, and both investors and public figures need to be more vigilant in this ever-evolving landscape of crypto fraud.