thecoinrise.com
The X account of American actress Sydney Sweeney was recently hacked, leading to the promotion of a cryptocurrency token bearing her name in what appears to be a classic pump-and-dump scheme. The Solana-based token, dubbed SWEENEY, saw a dramatic surge in trading volume, amassing over $10 million within just two hours of its launch on July 2. This surge was driven by several promotional posts made from Sweeney’s compromised X account.
SWEENEY Token
One of the now-deleted posts from Sweeney’s account read, “Well I think it’s time… $sweeney is now live 100mc incoming,” indicating the token’s launch. The immediate market reaction was undeniable.
SWEENEY’s price plummeted nearly 90% within just over an hour, starting at 6:15 pm UTC. Despite a partial rebound, the token’s market cap currently sits at $1.2 million, a significant drop from its peak of $3.85 million, according to data from DEX Screener.
Other Celeb X Accounts Hacked
The situation took an even more sinister turn when the administrator of a Telegram channel associated with the token took credit for the hack. In additional now-deleted posts, this individual claimed responsibility for recent hacks of other celebrities’ X accounts, including rapper 50 Cent and former pro wrestler Hulk Hogan, which were used to promote similarly dubious tokens. The hacker also hinted at targeting an even more popular celebrity next, though no specific details were provided.
This incident marks the second time Sweeney’s X account has been hijacked to promote a cryptocurrency. Back in January, hackers breached her account to promote another Solana-based token, MILK, which currently holds a market cap of $1 million.
Celebs and Crypto
The hacking of Sweeney’s account comes amidst a trend of minor celebrities turning to promote cryptocurrency tokens. Media personality Caitlyn Jenner and rapper Iggy Azalea have both launched and supported Solana-based memecoins. These efforts initially involved memecoin collaborator Sahil Arora. Other celebrities, such as American rapper “Rich the Kid,” Nigerian singer David Adedeji Adeleke Oon, and boxing legend Floyd Mayweather, have also seen token launches promoted from their X accounts.
Among these celebrity-endorsed tokens, Azalea’s MOTHER token has been the standout performer, reaching a peak market cap of $148.9 million. However, it too has faced significant volatility, with nearly $100 million shaved off its market cap since its peak, according to CoinGecko data.