Solana-based decentralized exchange (DEX) aggregator, Jupiter has regained its X account, after losing it to hackers yesterday. The platform made the development known on Thursday, disclosing that no funds were lost to the attack.
According to the statement, the issue only affected Jupiter’s X account, while other communication channels were safe. The firm explained how its programs and funds are protected using secure multisigs.
Recall that on Wednesday, Jupiter suffered a hack to its X account, as the attacker promoted a fraudulent meme coin on the page. The platform raised the alarm through another official account, urging community members to avoid the main page.
In the post, Jupiter assured users that the team would address the issue, but advised them not to click links or purchase the meme coin the hackers are promoting on the account. Before shutting out the hackers, the account allegedly promoted a meme coin identified as MEOW.
Community members seek compensation from Jupiter
However, Jupiter is currently enduring heavy criticism over the issue. A handful of community members disclosed how they invested huge amounts of SOL in the meme coin.
They pointed to how the credibility of the platform made them invest in the dubious project. Hence, the affected users are urging Jupiter to roll out a compensation plan and reimburse them.
Various speculations established that the meme coin soared massively after the hackers posted on it on Jupiter’s X page. Rumors claim that the token garnered a $30 million market cap within a few minutes before tanking massively.
Increasing promotion of fake meme coins
Lately, hackers are targeting prominent organizations and individuals by hacking their social media accounts to promote fraudulent meme coins. Like Jupiter, former Malaysian prime minister, Mahathir Mohamad lost his X account to bad hackers that promoted a fake meme coin; MALAYSIA.
Similarly, another public figure, Dean Dorris popularly known for his role as Hank Schrader in the Breaking Bad TV series, lost his X account to hackers late last month. The hackers used the page to promote a sham coin; DEAN, posting fake videos and pictures of Dean Dorris endorsing the token.
Before Dorris could regain his account and warn followers about the scam, the fake token had already acquired an $8 million market cap. Additionally, the recent attack on Dorris’s X page marks the second time hackers will lock the celebrity out of the account.
The increasing promotion of fake meme coins is not unconnected to the growing attention on the market segment. Meme coins are gaining relevance among investors due to how they offer swift gains.
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