The UFC’s Instagram was hacked, leading to a fraudulent post that promoted an unauthorized Solana meme coin, causing its market cap to surge to $11 million before crashing by 97%. The attackers profited $1.4 million by selling 40% of the token supply, leaving many investors with significant losses. This incident highlights the ongoing vulnerability of major brands to crypto scams, following similar hacks involving other companies.
about Hacks Target Major Brands to Promote Fraudulent Cryptocurrency Tokens