Wiz Khalifa’s Twitter account appears to have been hacked in an attempt to push a fraudulent coin onto unsuspecting followers.
In a since-deleted post, hackers used Wiz’s account to shill a new token, prompting quick reactions from the crypto community.
On-chain investigator ZachXBT was the first to respond, warning users, “Do not buy this, his account is hacked.” He added that, “It’s the same scammer who hacked Andy Ayrey recently.”
SIM swap attack leads to major scam
Ayrey, the creator of Truth Terminal—a cryptocurrency bot powered by AI—was hacked just days before. His Twitter (X) account was compromised, allowing hackers to promote a fraudulent meme token and pull off a massive pump-and-dump.
This recent breach involving Wiz’s account has deepened concerns around security, especially given the tactics hackers are using to exploit high-profile accounts in crypto.
The hackers used a SIM swap to take over Ayrey’s account. A SIM swap lets hackers gain control of a victim’s phone number, which they then use to reset passwords and access linked accounts.
Once inside the account, hackers promoted a token called Infinite Backrooms (IB), hyping it enough to send its market cap soaring to $25 million in a matter of hours.
In this scheme, hackers initially bought 124.6 million IB tokens for about $38,400. As the promotion on Ayrey’s account caused the price to spike, they quickly dumped their tokens, making off with $602,500 within 45 minutes.
After the damage was done, all posts related to the scam were wiped from Ayrey’s account, but by then, it was too late for affected investors.
The hack left Ayrey’s portfolio and the wider meme coin market in shambles. Truth Terminal, known for holding millions in meme coins, took a hard hit. One of the most affected was GOAT, a Solana-based meme coin that had been gaining traction.
The token’s price plummeted by 34.5% following the hack. GOAT had been trading at a high of $0.8788 just ten days prior but tanked to $0.4686, signaling how investor trust in meme coins took a blow due to this incident.