Dogwifhat Hack Exposes Rising Crypto Scams on Social Media
WIF
Crypto scammers hacked the Solana-based memecoin, Dogwifhat’s X account. On November 15, 2024, the attackers used the account to promote several newly launched meme coins, including PopWifNut (POPWNUT), Muu (MUU), and DogWifDoge (WIFD). Their goal was to manipulate these tokens' prices by deceiving Dogwifhat’s large follower base into purchasing them.
Community Spotlights Scam
The Dogwifhat community quickly identified and exposed the scam, raising awareness among followers and preventing further exploitation of the compromised X account. Concerned users saw the posts and reported them as strange. A Web3 security firm known as Harpie verified the account compromise and posted a notice to users. The platform urged followers to avoid engaging with the posts and refrain from investing in the promoted coins.
As of press time, the price of Dogwifhat stands at $3.69, declining by 7.62% in the last 24 hours following the hack. However, over the past week, WIF has surged by 56.45%; the coin has seen a 42.34% increase in the last month.
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