As an analyst with over two decades of experience in the digital economy, I have seen my fair share of cybercrime, and this latest incident involving KickStreaming’s account on X is yet another grim reminder that scammers will exploit any opportunity to deceive unsuspecting victims. The hacking of legitimate accounts to promote fake tokens and scams is a growing trend, and it’s particularly dangerous in the crypto industry where trust in platforms and influencers is paramount.
KickStreaming’s account on X was hacked and used to push Solana-based scam tokens.
On December 4th, the authentic X account on the streaming platform shared suspicious links to wallet addresses, potentially tricking followers into a scam. The post suggested that the ‘Kick Token’ could offer potential resolutions for the blockchain community and independent content creators.
JUST IN: Streaming platform Kick X has been hacked and is spamming Solana meme coin scam links
— BlockNews (@blocknewsdotcom) December 24, 2024
On platform X, Bijan Tehrani, one of the founders of KickStreaming, swiftly addressed an issue. In his post, he clarified that the Kick token which had been publicly mentioned was not genuine and KickStreaming had no intentions to introduce any token. He urged users to report any suspicious posts related to scams as the company was working hard to reclaim control of its account.
“Kick does not issue cryptocurrency tokens at this time, and there are no plans for it to do so in the future. Be wary of any claims suggesting otherwise, as they may be fraudulent.
— Bijan Tehrani (@BijanTehrani) December 24, 2024
Scam tokens on the rise
Criminals who target social media frequently exploit hacked well-known accounts to advertise fraudulent cryptocurrencies or schemes, leveraging the credibility associated with legitimate profiles. In the realm of cryptocurrency, these hacks can be particularly damaging as users tend to rely heavily on platforms and influencers for their information.
One of the most recent cases was the X account hack related to Philip Bankss, the artist behind Chill Guy. Unauthorized users hacked into his accounts and started using them to advertise a meme coin of the same name, claiming he had licensed his intellectual property and artwork for the project. He publicly denounced scamming by stating that he neither supported nor allowed them to use his work in the crypto space.
The high-speed and low-fee Solana (SOL) blockchain network, often praised for its efficiency, unfortunately, is also frequently targeted by scammers. These unscrupulous individuals have turned the technical aspects of Solana to their advantage, exploiting them in various ways. A recent instance of such exploitation involved manipulation of Solana’s “Permanent Delegate” feature, which was designed to recover mistakenly destroyed tokens. This malicious activity has left several users with empty balances following confirmed token swaps.
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2024-12-24 12:06