UFC Account Hacked: Fake Token Causes Massive Losses for Investors
Date: 2025-01-31 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Within 40 minutes of the fraudulent post, the cryptocurrency skyrocketed in popularity, increasing its market value by 44,367% to reach a market cap of $11.31 million. However, the token creators soon sold their holdings, earning about $1.4 million, and the token's value plummeted by 97%, leaving investors with massive losses.
A UFC spokesperson confirmed that the account had been hacked and that the scammers had posted a false message. It claimed that UFC fans could “own the legacy” of the organization through a new coin that combined precision and power. The post, which was later deleted, led many users to believe that the offer was genuine, especially given the recent launch of the memecoin by Donald Trump.
The scam led to widespread disappointment among investors. Some of them, being confident in the credibility of the post, invested significant amounts in the token at its peak. One of the affected investors reported that he invested about $74,200, but after some time, his assets dropped to only $5,745.
This incident is not the first case of fraud in the cryptocurrency space. Research company SoSoValue recently warned about scammers who, in their name, promote fake SOSO tokens and send phishing emails. There have also been cases of hackers hacking the accounts of famous people to distribute fake memecoins, as happened with the account of actor Dean Norris.
This case serves as a reminder of the risks associated with investing in cryptocurrencies and the importance of carefully checking sources of information before investing.
A UFC spokesperson confirmed that the account had been hacked and that the scammers had posted a false message. It claimed that UFC fans could “own the legacy” of the organization through a new coin that combined precision and power. The post, which was later deleted, led many users to believe that the offer was genuine, especially given the recent launch of the memecoin by Donald Trump.
The scam led to widespread disappointment among investors. Some of them, being confident in the credibility of the post, invested significant amounts in the token at its peak. One of the affected investors reported that he invested about $74,200, but after some time, his assets dropped to only $5,745.
This incident is not the first case of fraud in the cryptocurrency space. Research company SoSoValue recently warned about scammers who, in their name, promote fake SOSO tokens and send phishing emails. There have also been cases of hackers hacking the accounts of famous people to distribute fake memecoins, as happened with the account of actor Dean Norris.
This case serves as a reminder of the risks associated with investing in cryptocurrencies and the importance of carefully checking sources of information before investing.
