Yes

>>News

>>Crypto influencers are facing targeted attacks from scammers who aim to manipulate them into promoting a questionable cryptocurrency called Memecoin.

Crypto influencers are facing targeted attacks from scammers who aim to manipulate them into promoting a questionable cryptocurrency called Memecoin.

crypthub

1/24/2025, 11:48:23 AM

Scammers Target Crypto Influencers with GCR Acronym

Scammers have utilized the acronym GCR to compromise prominent crypto influencers on Twitter, engaging in fraudulent activities that manipulate token prices. On late Sunday, a compromised influencer account posted price predictions for the ORDI token, causing temporary price spikes. The hackers also disseminated promotional content for both ORDI and Luna 2.0 tokens, leading to further market fluctuations.

GCR Confirms Breach and Advises Followers

Following the incident, GCR confirmed the breach and urged followers to disregard any promotional posts from their account. The influencer revealed that they had been warned about potential bribes for administrative access to their account two months prior by someone affiliated with Twitter. This incident highlights the vulnerabilities of social media platforms in the hands of malicious actors.

Market Impact and Speculations on Motives

The hacker's actions resulted in a price surge for ORDI from $40 to $44, although it subsequently declined to $40. Luna 2.0 experienced an even more dramatic increase of 274%. Crypto observers are speculating about the motives behind this widespread scam, with some suggesting it could be part of a larger scheme targeting celebrities and influencers.

High-Profile Victims and Unauthorized Promotions

American rapper Rich The Kid was a notable victim, inadvertently promoting a new token (RICH) on Twitter, causing its market value to surge to $90,000 within two hours. Similarly, Caitlyn Jenner, an American media personality, promoted a memecoin (JENNER), driving its market valuation to $4.7 million. These unauthorized promotions raised suspicions among observers regarding the authenticity of the influencers' actions.