- Wiz Khalifa’s X-account was hacked for promoting memecoin $WIZ on Solana pump.fun
- $WIZ reached $3.4M market cap within 15 minutes of launching
- However, an hour later, $WIZ dropped to $28K
Wiz Khalifa’s X-account with about 35.7 million subscribers was the plodding promotional meme koin $WIZ launched on Solana pump.fun.
Within 15 minutes of its launch, it reached a market capitalization of $3.4M, but within an hour it had dropped rapidly to $28K and now stands at just $8.4K.
Allegedly, the same hackers who hacked Andy Airy to pull off a similar scheme are behind it.
More About $WIZ Rise and Fall
The post after Wiz Khalifa’s X-account hacked on Nov. 3 appeared:
The incident quickly died down, jumping to $3.4M and dropping to $28K within an hour of launch. However, it didn’t change the fact that the top two wallets acquired just over 155 million at a capitalization of $19K, selling later and earning a combined total of about $160K.
ZachXBT, a well-known crypto researcher commented on this to stop people from buying $WIZ warning about the hack. He also suggested that the same hackers who pulled off a similar scheme with Andy Ayrey, Truth Terminal creator, which gave them a $1.5M profit, might be behind it.
Most interestingly, the posts are already deleted, but there has yet to be a statement about regaining control of the account. Should this give us additional vectors to think about, or is it just that the problem is still in the process of being solved?
Conclusion
Another case of an influencer account with a large fan base being used as a resource to mislead people in a still young and developing crypto industry.
This past case shows that the more advanced and secure the technology becomes, the more social engineering is used as a key attack vector.
Be careful and aware, and double-check all the info before making financial decisions.
