Scammers Hack X Accounts of Jupiter DEX and Former Malaysian Prime Minister Mahathir Mohamad to Promote Scam Cryptocurrencies

On Feb. 5, scammers hacked the X accounts of Jupiter DEX, a Solana-based crypto exchange aggregator, and former Malaysian Prime Minister Mahathir

Scammers hacked the X accounts of several high-profile individuals and a crypto exchange aggregator on Feb. 5 to promote scam cryptocurrencies, causing millions of dollars in losses.

The X accounts of Solana-based crypto exchange aggregator Jupiter DEX and former Malaysian Prime Minister Mahathir Mohamad were compromised on Sunday. The hackers used these accounts to promote scam cryptocurrencies named MEOW and MALAYSIA, respectively.

Jupiter Mobile’s X account quickly issued a warning after the hack, urging users not to click on any links or buy tokens promoted on the hacked account. The post confirmed that the team was working to regain control.

MEOW Coin Spikes to $30 Million Before Collapsing

Despite this warning, the scam coin MEOW reached a market cap of $30 million in seconds before crashing, according to crypto data aggregator GeckoTerminal.

The token spiked to $8 million in value before losing 98% of its worth, dropping to just $88,000, the data showed.

Ong, Jupiter’s co-founder, confirmed the hack but reassured users that the platform’s smart contracts were still secure thanks to a 4/7 multisignature security feature.

“Any transactions still require multiple team members to approve,” Ong said. “The good news is that the hackers will not be able to access any funds.”

However, Beanie, the pseudonymous founder of crypto venture capital firm GM Capital, estimated that traders lost millions of dollars within minutes of the attack.

Former Malaysian Prime Minister’s X Account Used for Another Crypto Scam

Meanwhile, Mahathir’s X account was also used to promote a fraudulent cryptocurrency called MALAYSIA, using his influence to attract investors into the scam coin.

According to GeckoTerminal, the token’s market cap soared to $3.4 million shortly after the hack. However, the token then crashed to $153,000 as investors realized it was a scam and quickly sold off their holdings.

Yu Xian, the founder of cybersecurity firm SlowMist, confirmed that Mahathir’s account was compromised and used to lure victims into investing in the fraudulent token.

“The former prime minister’s X account was hacked. They are using his influence to promote the MALAYSIA token, and everyone is advised to stay vigilant,” Xian stated.

The Jupiter and Mahathir Mohamad hacks are the latest in a growing wave of high-profile social media breaches being used to pump and dump scam tokens.

Just last month, Breaking Bad star Dean Norris had his X account hacked for the second time. Scammers used his likeness to promote a fraudulent crypto scheme, deceiving his followers into investing in another pump-and-dump coin.

Moreover, fake accounts posing as the U.S. Treasury recently promoted counterfeit cryptocurrencies falsely linked to Bank of America, JPMorgan, and BlackRock on the XRPL network.