Originally published on: November 04, 2024
Rapper Wiz Khalifa fell victim to a hacking incident on Nov. 3 when his X account was compromised, and the hackers used it to promote a scam memecoin to his 35.7 million followers.
In a now-deleted post on X, the hackers claimed Khalifa was collaborating with his team to launch $WIZ for the crypto community.
The WIZ memecoin, launched on the memecoin launchpad pump.fun based on Solana, quickly soared to a peak valuation of $3.4 million within 15 minutes of its release.
However, the market capitalization of WIZ plummeted to less than $28,000 within an hour as early investors offloaded their tokens. Currently, WIZ is trading at $8,400, as per data from DEX Screener.
Reports from Solscan reveal that the top two wallets acquired over 155 million WIZ tokens during the launch for $19,100 and later sold them for a combined profit of $160,000.
Although the identity of the hacker and the method of Khalifa’s account breach remain undisclosed, blockchain investigator ZachXBT suggests the same hacker may have been responsible for hijacking Truth Terminal developer Andy Ayrey’s account on Oct. 29.
Warning against purchasing the Wiz Khalifa Pump Fun token, ZachXBT informed his public Telegram group that it was the same hacker who compromised Andy Ayrey. The posts promoting the memecoin have been removed, but there has been no update on whether control of Khalifa’s account has been regained.
Just a week earlier, Ayrey’s X account had been hacked, resulting in the promotion of several fraudulent memecoins, yielding the attackers $1.5 million in gains.
Truth Terminal, known for propelling Goatseus Maximus (GOAT) memecoin to a peak valuation of $940 million, currently has a market cap of $544 million, down 39% from its all-time high on Oct. 24, according to DEX Screener data.
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