UFC Instagram Hack Pummels Buyers of Use Solana Meme Coin

Popular mixed martial arts organization UFC had its Instagram hacked Wednesday when a fraudulent post alien an unauthorized Solana Meme Coin, which rapidly rose to a market capital of $ 11 million.

That’s before the striker sold their 40% supply, of course that benefits from $ 1.4 million in the process – that’s more than Khamzat Chimaev served at UFC 308. This pump-and-dump has left many UFC fans with significant losses when token’s price crashed by 97%.

“UFC fans have been waiting and the moment is here. Get ready to own the legacy. Precision. Strength. All in a coin. #UFC #unleashfight, ”The now-Salted Instagram post read, followed by Solana Token contract address.

This post caused UFC -coin (UFC) to spike 44,367% in just 41 minutes to a market capital of $ 11.31 million. Numerous users in Token’s Telegram -Chat told Decryptter That they thought the Instagram post was legitimate, especially when Donald Trump just launched his own (real) coin.

“I (bought) because (the) Trump One was the same story at first,” Telegram told Nenad to Decryptter. “Everyone thought it was fake, but it wasn’t.” They added, “I quickly realized it was false when the comments were off, but I still stayed to see what will happen.”

A UFC -Officer confirmed to MMA Junkie That the post was not legitimate and that the brand’s Instagram account had been hacked.

As per the visualization company on the chain Data Visualization Bubblemaps40% of the total token supply was controlled by a group of 19 connected wallets – presumably attackers. In total, this cluster earned nearly $ 1.4 million from just over $ 40,000 value of purchases.

A trader invested $ 74,200 across five transactions on top, plus another two transactions after the 97% pulled down, according to DEX -Screens. These funds are now collectively worth only $ 5,745. Similarly, another trader bought $ 67,800 of the token, which is now worth only $ 5,266; Another saw their $ 51,700 investment jump to just $ 3,000, from this writing.

In an attempt to save some of their losses, a acquisition team in the community has gathered to try to increase token’s price. Some investors are trying to contact MMA journalists to get Dana White talking about the token ahead of UFC Fight Night: Adesanya vs iMavov event this coming weekend.

UFC is just the latest in a large number of large companies that have been hacked just to promote a crypto scam. Last year, the official McDonald’s Instagram account was hacked along with the X account of a business manager where attackers eventually ran away with $ 700,000 via a scam grimace -token.

However, the industry has also seen an influx of tokens linked to legitimate companies and/or their founders. Earlier this month Founder of Video App Wines launched wines coin (Wines) that peaked at a market share of $ 475 million. Users now speculate that it can be used in a future relaunch of the app.

Edited by Andrew Hayward