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Market News

Drake’s X account Hacked, Promotes Solana memecoin ‘Anita’

Written By Jahnu Jagtap
Published December 15, 2024 9:27 AM·Updated 9 months ago
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Drake's X account Hacked, Promotes Solana memecoin ‘Anita’

Canadian rap superstar Drake’s official X (formerly Twitter) account was compromised Saturday night, with hackers using it to promote a fraudulent Solana-based memecoin called “Anita,” a play on his cartoon “alter ego,” Anita Max Wynn.

The hackers posted messages to Drake’s over 39 million followers, falsely claiming the token was launched in partnership with Stake, the crypto betting platform with which Drake has a longstanding association dating back to 2022.

Drake;s X account Promote anita
Source: X(Twitter)

The fraudulent coin shared a name with the rapper’s upcoming Anita Max Wynn Tour in Australia and New Zealand, further leveraging Drake’s brand to lend credibility to the scam. The name “Anita Max Wynn” itself is a play on the gambling phrase “I need a max win.”

These posts included a contract address for the “$ANITA” token and featured a cartoon character associated with the project, before ultimately being removed.

An associated X account claiming to be the official project page was quickly suspended.

ANITA's X Account Suspended
Source: X(Twitter)

Despite the brief window of promotion, the memecoin saw approximately $5 million in trading volume before traders seemingly recognized the fraud and ceased buying, according to data from DexScreener.

Drake, who has publicly expressed support for digital assets and once shared a post featuring Michael Saylor’s Bitcoin commentary on Instagram, has also recently faced separate allegations from a social media influencer claiming a $2 million loss in a crypto investment deal involving Drake and another individual.

Hacking social media accounts to promote fraudulent projects is a common tactic employed by cybercriminals in the cryptocurrency world. Other celebrity musicians who have fallen victim to similar hacks include Wiz Khalifa, Cardi B, Doja Cat, and Metallica.

By targeting high-profile individuals and brands, scammers attempt to create a veneer of legitimacy for their schemes, exploiting the trust and influence these figures command among their followers.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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