Doja Cat’s X Account Hacked, Pushing Scam Token $DOJA on Solana!

Key Points:

• Doja Cat’s social media account was hacked, leading to the promotion of a fraudulent cryptocurrency token, $DOJA, on Solana.
• The scam token $DOJA surged over 79,000% in value within an hour but quickly plummeted, resulting in over $2.3 million in losses.

Doja Cat’s official social media account was hacked to sell a scam cryptocurrency token called $DOJA, which is residing on the Solana blockchain.

The token’s price surged over 79,000% an hour after the unauthorized sale. However, the surge did not last, and investors who jumped into the trap lost more than $2.3 million as the token subsequently crashed.

This incident happened in so short a time that it became a red flag in the eyes of all the followers and the cryptocurrency community. Doja Cat got unprecedented attention tagged to the popular artist. The value appreciated exponentially, and speculation and trading reached a fever pitch before allegations of something amiss took over.

Read more: $1.38 Billion Lost in First Half 2024 Crypto Hacks: Report

$DOJA Token Surges 79,000% and Plunges

It was hosted on Solana’s blockchain, which is known for super-fast transactions and decentralized applications. In a token that promised the sky, investors seeking fast gains were left dazed as its price crashed to near-zero, some wondering what security measures are put in place around celebrity endorsements in the digital asset space.

Experts and security analysts have called for more vigilance in cryptocurrency investment as the threat of increasingly sophisticated cyber-attacks grows. The $DOJA incident demonstrates how hackers look to exploit social media accounts to cash in on celebrity influence.

Doja Cat’s team has not officially commented on the breach. Meanwhile, authorities and cybersecurity companies are investigating the hack and its implications for the affected artist and the wider community of digital asset investors.