Jupiter’s X Account Hacked to Promote Fake $MEOW Tokens

Jupiter Exchange’s X (formerly Twitter) relationship got hacked with effects connected February 6, 2025. The hacked relationship was utilized to marque fraudulent posts promoting scam tokens which caused panic among investors and the enactment saw the prices of JUP tokens instrumentality a hit.

Source: X

The hacker took vantage of the level by posting astir a memecoin called $MEOW, which rapidly surged past $20 cardinal successful marketplace worth earlier the liquidity excavation was drained, leaving investors incapable to sell. The sanction seemed to beryllium a play connected Jupiter’s co-founder, Meow. Soon after, the hacker promoted different token, “DCOIN,” adding to the chaos.

Jupiter DAO rapidly warned users not to click connected immoderate suspicious links oregon prosecute with scam content. The interaction connected JUP’s marketplace was immediate, with prices dropping 12% from $0.85 to $0.75 wrong minutes. Trading enactment spiked, JUP/BTC and JUP/ETH volumes changeable up 300%, portion progressive transactions roseate by 40%.

The harm wasn’t constricted to Jupiter’s ecosystem. Uncertainty dispersed crossed the altcoin market, causing further declines. By 11:00 AM UTC, JUP had slipped to $0.71, with its comparative spot scale (RSI) hitting 30, signaling it mightiness beryllium oversold and owed for a rebound. At the aforesaid time, ample transactions implicit $100,000 accrued by 25%, suggesting that immoderate large players were taking vantage of the dip.

Jupiter’s founder, Meow, aboriginal confirmed that the onslaught came from a U.S.-based IP address. At the time, a cardinal squad member, Mei, was unreachable due to the fact that she was traveling backmost to Singapore from Mountain DAO owed to a household emergency. 

As a effect of this incident, traders are advised to stay cautious, disregard scam posts, and not commercialized successful faux memecoins. This incidental serves arsenic a reminder of the persistent threats centralized platforms look and underscores the importance of enhanced information protocols successful the crypto sphere.

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