Fraud with MBAPPE: Hacking attacks on cryptocurrencies

Hackers Targeting the Cryptocurrency World: Scam Linked to MBAPPE

In July 2024, the world of cryptocurrencies was shaken by a series of hacks that caused significant losses to investors, overshadowing some scams. However, on August 29, an incident occurred that rocked the cryptocurrency community – a scam associated with a memecoin called MBAPPE.

Attack on Kylian Mbappé’s Account

The shocking event took place when hackers took control of one of the social media accounts of the French footballer Kylian Mbappé (first Twitter, then other platforms) and started illegally promoting a cryptocurrency, attracting investors to a fake project.

Scam and Investor Losses

One investor even decided to put in 7,156 SOL (approximately 1.03 million USD) in MBAPPE, which turned out to be a tragic mistake. Within an hour, the value of the cryptocurrency plummeted to just 9,200 USD, nearly wiping out this unfortunate investor’s investment.

Analysis and Response

An analysis conducted by Lookonchain revealed the details of this scam, which turned out to be part of an elaborate hoax. There are suspicions that the scammers had full access to the account, enabling them to generate or block tokens to manipulate the market.

The Danger of Celebrity Name Exploitation

The MBAPPE scam is another example of how dishonest players can exploit the popularity of known individuals to promote fraudulent schemes. In this case, the token was created on the Pump.fun platform, and its value briefly surged due to false promotions associated with Kylian Mbappé.

Increasing Cases of Cryptocurrency Scams

A report by ImmuneFi from July 2024 alarmingly revealed that hackers had already stolen over 1.2 billion USD in the same year. Frauds and hacks were the main source of cryptocurrency losses, with hacking attacks responsible for 98.9% of all losses, while scams accounted for only 1.1%.

Other Incidents

Unfortunately, the incident related to MBAPPE was not the only one of its kind. Hackers also targeted the social media account of the music band Metallica on June 26, and utilized the account of rapper Doja Cat to promote a fake cryptocurrency scheme, resulting in over 1.6 million USD in investor losses.

The whole situation showcases the importance of exercising caution and prudence in the world of cryptocurrencies, where scammers lurk at every corner, trying to seize every opportunity for their own gain.