As a seasoned crypto investor with a decade of experience under my belt, I’ve seen more than my fair share of pump-and-dump schemes and celebrity endorsement scams. The recent Anita fiasco, tied to Drake’s upcoming tour, was a perfect example of the wild West that is the crypto world.
The hack resulted in ANITA surging to $4.9 million in trading volume, which was pumped on account it was tied to Drake’s upcoming tour.
On December 15, the social media account belonging to influential Canadian rapper Drake was hacked. The unscrupulous individuals who gained control of the account then used it to advertise a cryptocurrency known as Anita, which is a type of meme coin.
In just a few hours after its creation, the new token saw a trading volume of approximately $4.9 million, mainly due to the excitement generated by the rapper’s 39 million followers, who thought it was associated with his upcoming tour, known as the Anita Max Wynn tour.
As an analyst, I can confirm that the promotional material suggests this token was collaboratively developed with the well-known betting platform, Stake. Notably, Drake has had a lasting relationship with this brand.
Upon its launch, I observed an immediate surge in trading volume for this meme coin, with approximately 7,000 buy orders. Yet, upon closer examination by experts such as Zachxbt and many others, it was swiftly determined that this meme coin was likely a fraudulent scheme.
In a not-uncommon scenario, Drake isn’t the only celebrity to experience hacking incidents similar to his own. For instance, Cardi B and Doja Cat experienced such breaches in December 2024. Furthermore, Halley Welch, a well-known TikTok personality thanks to her viral “Hawk Tuah” video, has faced criticism from the crypto community for endorsing HAWK—a cryptocurrency that garnered a massive $480 million market cap before plummeting, leaving investors and fans in a precarious position.
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2024-12-16 13:42