The official Nasdaq account on X was hacked and used to promote a fraudulent memecoin, causing the token's value to spike sharply, but not for long.
The official Nasdaq account on X was hacked and used to promote a fraudulent memecoin, causing the token's value to spike sharply, but not for long.
The X exchange account posted a post from a purported affiliate account promoting a memecoin called STONKS. The token turned out to be a copy of an existing token on the Solana blockchain.
The fraudulent post was later deleted and the fake account deactivated. This is a fairly common practice among hackers and scammers — they impersonate celebrities or accounts with a large number of followers and use them to promote fraudulent crypto tokens.
The market capitalization of the fake memecoin rose to a record high of around $80 million, then collapsed almost immediately, according to Dexscreener data.
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Recall that Nasdaq is an American stock exchange, which the Ukrainian operator Kyivstar plans to enter. For this purpose, the parent company VEON signed an agreement with the investment company Cohen Circle. Telecom expert Anatoly Frolenkov says that "Nasdaq is the Champions League for tech companies."
