Mbappé’s Twitter Hijacked to Promote Fake MBAPPE Token

• French soccer star Mbappé’s X account was hacked on Wednesday to promote a scam token.
• Many users reported losing thousands of dollars to the scam.
• Celebrity pump-and-dump scams are growing with the use of technology, and social media hacks have become more frequent.

On Aug. 29, hackers compromised soccer superstar Kylian Mbappé’s X account.

The hijackers exploited the French player’s huge following to promote a bogus token, MBAPPE, repeating an infamous scam that has caught many celebrities off guard in recent years

Mbappé Twitter Account Hacker Makes Quick Money

Within minutes of the fake promotion, the MBAPPE token skyrocketed to a multi-million dollar market capitalization only to eventually crash to zero, leaving most of the unsuspecting investors with massive losses.

A few lucky individuals managed to profit from the scam, including one user who invested 2 SOL ($286) and sold at the token’s peak price, netting a return of around 1,398 SOL ($200,000).

However, others were not so fortunate. According to data  from on-chain analytics platform Lookonchain, one investor lost over $1 million in a single transaction on the meme token, only to watch it evaporate within hours.

The Mbappé account hacker siphoned $100,000 within the first hour and stole over $500,000 in assets before his account was restored.

The Memecoin Frenzy and Get Rich Quick Conundrum

Cybercriminals frequently target high-profile social media accounts to promote crypto scams, preying on the trust and credibility of unsuspecting investors.

These scams often balloon to a multi-million-dollar market capitalization within minutes before plunging to zero, leaving investors reeling from major losses.

Despite the obvious red flags, many people continue to fall prey to these scams. A combination of factors contributes to this vulnerability, including the frenzied enthusiasm for meme coins and the get-rich-quick mentality that pervades the crypto market.

Shockingly, even seemingly unlikely targets, such as fast-food giant McDonald’s, have been exploited. In this instance, hackers infiltrated the company’s social media account to dupe users out of their money.

While many may argue the influence of public figures is one of the key reasons, even fast food giants like McDonald’s account was hacked to scam users out of their money.

While celebrity endorsements can amplify the allure of these scams, it’s essential to remember that any promotional offer that appears too good to be true is likely a scam.

Investors must remain vigilant and skeptical of such offers, lest they fall prey to the next big crypto scam.

About the Author

Prashant Jha

Prashant Jha is a crypto-journalist focused on the US and UK markets, his interests lie in blockchain technology and crypto adoption across emerging economies.

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