Wiz Khalifa's X Profile Hacked to Promote a Scam Memecoin, Deceiving Millions of Fans Through the Token "WIZ"

The recent cyber attack on Wiz Khalifa's social X account has highlighted the growing risks associated with the misuse of public profiles for crypto

output: A recent cyber attack on Wiz Khalifa’s social media account has highlighted the growing risks associated with the misuse of public profiles for crypto-related scams.

On November 3, Khalifa’s X account was compromised by hackers who promoted a fake memecoin, called “WIZ,” among his 35.7 million followers.

This type of incident not only exposes the vulnerabilities of online security, but raises questions about the economic risks to which fans of celebrities and investors are exposed.

The episode began with a now-deleted post, where the hackers, pretending to be Khalifa, claimed to be working with a team to launch the WIZ token, intended for all cryptocurrency enthusiasts.

The digital currency, presented as a special opportunity for fans, immediately attracted attention.

The interest sparked by the (apparently) direct involvement of Wiz Khalifa led to an explosive increase in the valuation of the memecoin, which reached a peak of $3.4 million within 15 minutes of the launch.

However, as soon as the first buyers started to sell their tokens, the value of the coin experienced a drastic drop, reaching less than $28,000. According to DEX Screener, the current value of the token is about $8,400.

Data from Solscan reveals that the two main wallets involved purchased more than 155 million WIZ tokens at the time of launch, investing approximately $19,100.

Subsequently, the same wallets sold the coins, obtaining an overall profit of about $160,000.

These sales triggered a drop in the currency’s value, leading to huge losses for the small investors who had bought the token at the initial peak.

The scheme of the hack and the reactions of the crypto community

Despite the identity of the hacker remaining unknown, blockchain investigator ZachXBT suggested that the same individual might be responsible for a similar attack that occurred on October 29.

On that day, the X account of Andy Ayrey, developer of Truth Terminal, was compromised. Even on that occasion, the hacker exploited the breached profile to promote fake memecoins, earning about $1.5 million in illicit profits.

“Do not buy the token WIZ Khalifa Pump Fun,” warned ZachXBT via a message in his public Telegram group, trying to alert the cryptocurrency community about the risk of participating in suspicious operations.

His report has helped to spread awareness about the risks associated with unverified investments and the need to be extremely cautious with tokens promoted through social media.

The connection with Truth Terminal and the GOAT case

Also, Truth Terminal is an AI bot known in the crypto sector for having created the memecoin Goatseus Maximus (GOAT), which in the past reached a valuation of $940 million.

Even though the current valuation has dropped by ۳۹%, GOAT remains one of the most talked-about memecoins.

However, the association of Truth Terminal with other bull memecoin bear scams has raised questions about the integrity of such projects and the risks of abuse of AI technologies in the cryptocurrency sector.

In the same way, the breach of Wiz Khalifa’s account and the promotion of the memecoin WIZ represent an example of the risks that cryptocurrencies entail, especially when they are associated with celebrities without their consent.

Investors are attracted by the illusion of being able to earn quickly, but often end up suffering serious economic losses.

Moreover, episodes like this highlight the importance of stricter security measures for social profiles and greater awareness of possible scams.

The story of Wiz Khalifa raises questions about how social media can be used (or exploited) to promote risky financial products.

With a growing number of similar cases, it is evident that the cryptocurrency sector needs stricter regulations to protect users from scams.

At the same time, social platforms might have to implement advanced security measures to prevent the theft of accounts of influential people.