Crypto Scams Unveiled: GCR and Caitlyn Jenner X Accounts Hacked While ORDI and Luna 2.0 Prices Surge

• On May 26, several prominent figures in the crypto community faced a significant hacking incident.
• These influencers and celebrities had their X accounts compromised, leading to the promotion of new meme coins and subsequent brief price surges.
• One notable victim was the Gigantic-Cassocked-Rebirth (GCR) account, which boasts 247,000 followers and is known for its contrarian trades.

Crypto influencers’ accounts hacked, promoting meme coins and causing price surges: A deep dive into the hacking incidents that shocked the crypto world.

Hacked Crypto Influencers Cause Market Fluctuations with Meme Coin Promotions

In a surprising turn of events, various respected crypto influencers saw their X accounts hacked on May 26. These compromised accounts were used to promote newly launched meme coins, resulting in temporary price spikes. Among these affected figures was the Gigantic-Cassocked-Rebirth (GCR) account, which confirmed the unauthorized promotions of ORDI and Luna 2.0 tokens to its 247,000 followers.

The Impact on Token Prices

The promotions had immediate effects on token prices. ORDI saw a modest gain of 6%, while Luna 2.0 experienced a dramatic surge of up to 274%. Despite the significant price jumps, crypto analysts believe the gains were minimal since the hacker focused on these relatively well-known tokens instead of lesser-known microcap coins, which could have led to more substantial manipulations. The incident also garnered attention from high-stake players in the crypto casino industry, who often look for quick profit opportunities.

Continued Threats and Community Responses

Bitcoin developer and Ordinals commentator, Udi Wertheimer, highlighted a growing trend of hacking incidents targeting high-profile X accounts during long weekends when platform engineers are usually off duty. This vulnerability is effectively exploited by hackers to post about meme coins using celebrity accounts, leveraging the influence of these figures to generate quick gains. Wertheimer stressed the necessity for constant vigilance within the community to prevent such occurrences.

The Jenner Incident: Promoting New Coins or Misleading Trends?

Simultaneously, another significant event unfolded as American media personality Caitlyn Jenner’s X account promoted a new Solana-based coin named ‘JENNER.’ The timing of this promotion, coinciding with the GCR hack, has raised numerous questions within the crypto community. The new coin swiftly achieved a market cap of $27.1 million in just eight hours, further igniting debate and speculation.

Verification and Community Doubts

Unlike the GCR case, where hacking was evident, Jenner and her manager Sophia Hutchins took a proactive step to dispel any misunderstandings. They hosted an X space to confirm the authenticity of the promotional post, asserting that Jenner’s endorsement was genuine and not the result of a hack or deepfake technology. This public affirmation aimed to restore confidence among Jenner’s followers and the broader crypto community, amid growing skepticism.

Conclusion

The recent hacking incidents underscore the pressing need for enhanced security measures and vigilance within the crypto community. The targeted attacks on influential accounts and subsequent market manipulations highlight vulnerabilities that could potentially lead to significant financial repercussions. As demonstrated by the swift action of some affected individuals, clear communication and transparency are vital in addressing and mitigating the impact of such incidents, thereby fostering trust and stability in the crypto ecosystem.