In a recent series of events on Twitter, popular crypto influencer GCR’s account was hacked, leading to a brief surge in the price of ORDI and Luna 2.0 tokens. GCR confirmed the hack, warning followers to ignore any promotional posts coming from his account. He believes that someone at Twitter may have been bribed to gain access to his account, leading to the security breach. The price of ORDI briefly climbed from $40 to $44 before falling back to $40, while Luna 2.0 experienced a 274% surge before returning to its previous levels.
Crypto observers have weighed in on the motives behind the hack, with Bitcoin developer Udi Wertheimer suggesting that it could be part of a wider scam targeting celebrities and crypto influencers. He advised caution, particularly as more niche celebrities continue to launch meme coins. Chinese crypto blogger Colin Wu noted that the hacker had established positions on OKX and Binance ahead of the hack, indicating a coordinated effort to profit from the price manipulation. Another analyst, Miles Deutscher, criticized the hacker for not maximizing their gains by choosing to pump ORDI and Luna 2.0 for only a small increase in price.
The hacking of celebrity crypto influencers’ Twitter accounts has become a concerning trend, with incidents involving American rapper Rich The Kid and media personality Caitlyn Jenner. Rich The Kid promoted a new token called RICH, which saw its market value reach $90,000 within hours of its release, while Caitlyn Jenner endorsed the JENNER token that amassed a market value of $4.7 million. Some suspected that these endorsements were the result of hacks due to the sudden surge in the tokens’ values. Jenner, in particular, doubled down on her promotion of the JENNER token, urging followers to ignore influencers who advised against buying it.
These hacking incidents have raised questions about the security measures in place on social media platforms like Twitter, with concerns about employees being bribed to provide access to high-profile accounts. The brief price surges in tokens like ORDI and Luna 2.0 following the hacks highlight the susceptibility of the crypto market to manipulation and fraud. As more influencers and celebrities venture into the world of cryptocurrency, the risk of such incidents occurring is likely to increase. It is crucial for investors and followers to exercise caution and skepticism when it comes to promotional messages and endorsements on social media platforms. The response from platforms like Twitter in addressing these security vulnerabilities will be closely monitored as these incidents continue to unfold.
