TLDR
- Doja Cat’s X (formerly Twitter) account was hacked to promote a scam cryptocurrency called “DOJA”
- The scam token reached a market cap of $1.65 million before crashing to $16,820
- Investors lost over $1.6 million due to the scam
- Doja Cat denied involvement, stating it was “literally an imposter”
- This incident is part of a trend of celebrity social media accounts being hacked to promote crypto scams
In a recent incident that highlights the growing trend of cryptocurrency scams involving celebrity social media accounts, rapper Doja Cat’s X account was reportedly hacked on July 8, 2024.
The hack resulted in the promotion of a fraudulent cryptocurrency called “DOJA,” leading to significant investor losses.
According to reports from celebrity news sources Daily Trends and The Daily Mail, the hacker posted an image of Doja Cat wearing armor and holding a sword. The post urged followers to “buy $DOJA or else” and included the token’s Solana contract address.
Doja Cat Has Been Hacked On X
She Explained In New Video The Moment She Saw That Her Account Got Hacked And Spreading pic.twitter.com/HMU9esEJol— Daily Trends (@trends_dailyU) July 9, 2024
The hacked account also made negative comments about fellow rapper Iggy Azalea, who recently launched her own celebrity-inspired cryptocurrency called MOTHER.
The scam token “DOJA” experienced a rapid surge in value following the promotional post. Data from DEXScreener showed that the coin’s market capitalization reached $1.65 million within the first hour of its launch.
However, the token’s value plummeted just as quickly, with its market cap falling to a mere $16,820 shortly after. This dramatic drop resulted in estimated investor losses exceeding $1.6 million.
Doja Cat quickly addressed the situation in a video post, denying any involvement in the scam. “It is not me!” she stated, “It is literally an imposter!”
The rapper urged her fans not to believe the deleted posts, emphasizing that they were made by someone else who had gained unauthorized access to her account.
Iggy Azalea, who was targeted in the hacked posts, also commented on the situation. She expressed her understanding that the posts were not from Doja Cat, stating,
“Get rugged if yall want but I’m cool w that girl irl so yall fucked up w that tweet hackers.”
This incident is not isolated but part of a growing trend of celebrity social media accounts being compromised to promote cryptocurrency scams.
In recent months, similar hacks have targeted other high-profile figures and entities in the entertainment industry.
For instance, the social media account of the heavy metal band Metallica was recently exploited to promote a Solana-based memecoin.
This led to a similar pattern of a rapid market cap increase followed by a sudden crash. In another case, rapper 50 Cent’s X account was compromised to execute a cryptocurrency pump-and-dump scam.
The rise of celebrity-inspired memecoins has been a notable trend in the cryptocurrency market. However, these tokens often experience extreme volatility and can be subject to manipulation.
In some cases, like with a Hulk Hogan-themed memecoin, millions of dollars in market capitalization can be lost within minutes.
These incidents have raised concerns about the security of social media accounts belonging to high-profile individuals and the potential for their influence to be misused in financial scams.
They also highlight the risks associated with investing in newly launched cryptocurrencies, particularly those promoted through social media.
The cryptocurrency market’s rapid pace and the potential for quick gains can make it attractive to investors. However, the Doja Cat incident serves as a reminder of the importance of thorough research and caution when considering investments in new or celebrity-endorsed cryptocurrencies.
