$ANITA meme coin scam exploits Drake’s fame, generating $4.9M in trades before crashing amid revelations.
Drake’s X Account Compromised in Crypto Scam
Over the weekend, Drake’s X account was hacked to promote the Solana-based meme coin, $ANITA. The token falsely claimed ties to the rapper and his partner platform, Stake, leading to a brief surge in activity.
Drake’s Twitter/X account was hacked today promoting a crypto meme coin named after Anita
The Rise and Fall of $ANITA Token
The fraudulent campaign spiked $ANITA’s trading volume to $4.9 million, with over 7,000 buy orders. However, the market cap dropped to $12,000 once on-chain sleuths exposed the token as a scam.
Meme Coin Scam Tactics Unveiled
Hackers used Drake’s 39M followers on X to lend credibility to the $ANITA project, misleading buyers with false endorsements. The coin’s branding tied into Drake’s Anita Max Wynn Tour, adding to the scheme’s deceptive appeal.
Celebrity Hacks: A Growing Crypto Concern
Drake’s hack follows breaches of X accounts of stars like Doja Cat and 50 Cent, all used to push meme coins. These incidents reveal a troubling trend where scammers exploit celebrity influence for financial gain.
Crypto Fraud’s Lasting Impact
While scams like $ANITA fade quickly, they damage trust in crypto markets and underscore the need for better cybersecurity. Ongoing awareness campaigns aim to protect users from similar frauds as hackers grow more sophisticated.
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