The rapper becomes the latest target of weak security on the social media platform
Over the weekend, rapper Wiz Khalifa’s X account was reportedly compromised in a scheme to promote a fraudulent cryptocurrency. The hacked account, boasting an audience of 35.7 million followers, featured a post claiming Khalifa was launching a new memecoin called “$WIZ” for crypto enthusiasts. This coin, deployed on the Solana-based launchpad platform pump.fun, quickly attracted significant attention, with its valuation peaking at $3.4 million within 15 minutes of the post going live.
However, this hype was short-lived. Within an hour, the market value of WIZ plunged dramatically as initial holders sold off their tokens en masse. This sudden sell-off caused WIZ’s market capitalization to plummet to under $28,000, leaving current trading values hovering around $8,400, according to DEX Screener’s tracking.
Blockchain data reveals that two of the top wallets purchased a combined 155 million WIZ tokens at launch for approximately $19,100. These accounts later cashed out, securing a collective profit of $160,000.
Although the exact identity and methods of the hacker remain unconfirmed, blockchain investigator ZachXBT noted that the attack resembles a previous incident involving Truth Terminal developer Andy Ayrey, whose X account was hijacked on October 29. ZachXBT alerted the public to avoid buying WIZ, identifying it as the work of the same hacker who targeted Ayrey’s account. In Ayrey’s case, his account had been manipulated to promote other fraudulent coins, which earned the hackers around $1.5 million.
Khalifa’s hacked posts have since been deleted, but there’s no official confirmation yet on whether he has regained control of his account. The incident has once again highlighted vulnerabilities in social media accounts of high-profile figures, underscoring the ongoing risks posed by hackers within the cryptocurrency space, especially targeting popular personalities to generate quick profits.
