On Thursday, crypto scammers released and promoted token, $MBAPPE token after hacking French football star Kylian Mbappe’s Twitter account. The promotional tweets for $MBAPPE are now been deleted. Following the hack, the market value of $MBAPPE tokens soared to tens of millions in a few minutes before quickly plummeting to zero.
Journalist Colin Wu reported that a user invested 2 SOL, about $286, into the token and then sold it at its peak, securing a profit of around 1,398 SOL worth $200,000.
One of the crypto investors fell prey to the scam and lost over $1 million in just an hour on Thursday, after buying the token.
Someone created a new wallet and spent 7,156 $SOL($1.03M) to buy a #MEMEcoin named $MBAPPE in a single transaction, which is now only worth $9.2K.
This person lost more than $1M in just 1 hour!😱https://t.co/IKsUN14km1 pic.twitter.com/kTF6SQCKT4
— Lookonchain (@lookonchain) August 29, 2024
Hackers used Mbappe’s twitter account for posting multiple promotions for the token ‘$MBAPPE’ that was created using Solana-based memecoin deployer Pump.fun, a platform for creating and launching memecoin in an easy and quick manner.
Minutes after the promotional tweets, crypto twitter discovered that the ‘MBAPPE’ token quickly spiked before going down to zero within moments. This suspicious act led to people seeing through the hack and raising alarms with regard to the matter. The posts have since been deleted.
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A user on twitter claimed that according to this graph, the person who hacked Mbappe’s account made nearly $100k in an hour from the crypto scam.
Apart from carrying out the massive crypto heist, the hacker had the time of his life by shitposting and leaving Twitter in splits.
A thread: Kylian Mbappe hacked X account tweets in the early hours of 29/08/2024: pic.twitter.com/uoC7ohTtR5
— KurdyAFC (@AfcKurdy) August 29, 2024
This is not the first time, Mbappe’s account was compromised to execute a dubious scam. Back in 2019 and 2020, hackers promoted Bitcoin, to coerce investors with false promises of quick gains using the footballer’s Twitter account. Crypto hacks are on rise, and there’s no doubt about it. In fact, in July alone, 16 crypto hacks resulted in a whopping loss of $266 Million.
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Also Read: NFT Scammers Hack Official Twitter Account of the University of the Philippines
