Sydney Sweeney’s X account hacked to promote crypto memecoin

The actress Sydney Sweeney from the United States had her X account hacked revealing deleted posts promoting a crypto token in a pump-and-dump scheme. Within two hours of its July 2 launch, Sweeney, a coin based in Solana, earned over $10 million in trading activity, mostly due to promotional postings from its X account.

In less than an hour, the price of SWEENEY fell by about 90%. however, it has since largely recovered. According to DEX Screener data, its market cap is currently $1.2 million, down from its peak of $3.85 million. The hack appeared to attributed to the moderator of a Telegram channel that connected to the token and shared on Sydney Sweeney’s X account.

They took ownership of the recent X account breaches on former professional wrestler Hulk Hogan and musician 50 Cent, which utilised to spread fake tokens through removed posts.Without providing any specifics, they stated that they would shortly aim for a star who is even more “popular” than Sydney Sweeney

This is the second time a cryptocurrency token has promoted through the hacking of Sweeney’s X account. Her account got hacked in January, and hackers used it as a marketing source for a Solana token called  MILK, with a $1 million market capitalization at the moment.

Celebrity Endorsements

The hack occurred after several less popular celebrities started endorsing cryptocurrency tokens.Meme coin collaborator Sahil Arora initially involved in the Solana-based meme coins that artist Iggy Azalea and media personality Caitlyn Jenner established and supported.

Celebrities like Rich the Kid, David Adedeji Adeleke Oon, and Floyd Mayweather Jr. promoted token releases from their X accounts.The best-performing celebrity token of the bunch was MOTHER, issued by Azalea, which peaked at a market valuation of $148.9 million. Nevertheless, CoinGecko data indicates that since then, its market cap has decreased by about $100 million.