Dogwifhat X Account Hacked to Manipulate Token Prices

user avatar

by Giorgi Kostiuk

2 years ago

On November 14, the X account of Dogwifhat was hacked to promote newly created tokens on the Solana blockchain, leading to significant fluctuations in cryptocurrency prices.

Dogwifhat Account Breach

The Dogwifhat account on the X platform was compromised, with attackers altering the bio and sharing posts encouraging users to invest in tokens POPWNUT, MUU, and WIFD by providing contract addresses for purchases.

Community members quickly noticed the account's compromised status, while web3 security firm Harpie confirmed the breach, advising users to steer clear of the posts.None

Manipulations with New Cryptocurrency

According to data from DexScreener, MUU experienced a sharp price surge following the fraudulent promotion, reaching an all-time high despite previous low trading activity. However, the price collapsed after the attackers liquidated their holdings. Similarly, WIFD and POPWNUT saw sharp increases followed by rapid declines, with both tokens losing over 83% of their value within six hours, and market caps falling to $12,000 and $37,000 respectively.

Account Recovery and Impact

Dogwifhat developers regained control of the account shortly after, restoring the original profile and removing all fraudulent posts. This incident occurred just days after a similar breach of rapper Wiz Khalifa's account, which was used to promote a fake cryptocurrency.

These recent hacks highlight the growing threat to social media users and the need for enhanced account security. In both cases, fraudsters used the platform to manipulate cryptocurrency prices, serving as a serious warning to crypto market participants.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

MEXC Launches Initiatives to Enhance Access to Financial Markets

MEXC has launched several initiatives, including the Trade Wall Street, Without Walls campaign, to enhance access to traditional financial markets.

user avatarRajesh Kumar

MEXC Introduces Stock Trading Handbook for Crypto Traders

MEXC has launched the Stock Trading Handbook to assist crypto traders in transitioning to the stock market as part of its Opportunity Compass initiative.

user avatarLucas Weissmann

KalshiEX Seeks Approval for Perpetual Security Futures

KalshiEX has filed a proposal with the SEC to introduce perpetual security futures linked to 58 stocks and ETFs.

user avatarFilippo Romano

US Dollar Strengthens Its Dominance in Forex Market

The US dollar's share in the forex market has increased to 89%, defying challenges from rival currencies.

user avatarEmily Carter

Cipher Mining Expands into High-Performance Computing and AI Infrastructure

Cipher Mining is leveraging its mining business assets to enter the high-performance computing and AI infrastructure market.

user avatarTomas Novak

REX Shares Launches TREX 2X Long Strive Daily Target ETF

REX Shares has launched the TREX 2X Long Strive Daily Target ETF, aiming to deliver 200% of the daily performance of Strive Asset Management shares influenced by its Bitcoin treasury.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.