Solana Memecoin Scam: Attack on Delhi Capitals

Indian Cricket Fans Fall Victim to Scammers Promoting Solana-Based Memecoin

Tuesday brought alarming events for Indian cricket fans who became victims of scammers attempting to deceive them through a memecoin based on Solana. The attackers took over the account of the popular cricket team Delhi Capitals and used it to promote this fraudulent token. Although the scam attempt was unsuccessful, the incident sheds light on the growing attempts to exploit the popularity of memetic cryptocurrencies for malicious activities.

Unconventional Methods Used by Scammers

The scammers who hijacked the Delhi Capitals account decided to promote the Solana-based memecoin using unconventional methods. Typically, hackers impersonate well-known figures or institutions to gain users’ trust and persuade them to invest. In this case, the Solana memecoin was named “HACKER,” and the scammers publicly announced unauthorized access to the account, providing false information and encouraging cricket fans to put money into this fraud.

History of Scams related to Solana Memecoin

Unfortunately, this is not the first attempt at fraud related to Solana memecoin. In the past, similar actions led to the accumulation of millions of dollars from naive users and even celebrities. Even official accounts on social media platforms are not safe – previously, a fake Solana token was promoted on McDonald’s Instagram account.

Delhi Capitals’ Response and the Consequences of Intervention

Upon detecting the attack, the Delhi Capitals team took immediate action to regain control of the account and remove all posts related to the “HACKER” scam. Thanks to their intervention, the trading activity of the memecoin dropped to zero, and its market capitalization currently stands at only $4,300, significantly less than during the initial phase of the attack when it reached $40,000.

Summary

The case of fraud related to Solana memecoin that occurred on Tuesday illustrates the ongoing evolution of scammers’ activities in the world of memetic cryptocurrencies. It is essential to be aware of the risks associated with investing in such assets and carefully analyze each investment proposal. Thanks to the quick response from the Delhi Capitals team, damages were limited, and further spread of the scam was prevented. However, this situation should serve as a warning to all those considering investing in Solana-based memecoins to remain vigilant and avoid suspicious offers.