memecoinalert

Reports indicate that the popular rapper Wiz Khalifa’s X account was hacked on November 3, with the account misused to promote a fraudulent memecoin called "WIZ." This token is currently trading for under $10,000.
Fraudulent Posts Target Crypto Fans
After the account hack, a post appeared suggesting that Wiz Khalifa had "worked with his team to launch $WIZ for all crypto fans." The post encouraged Khalifa’s 35.7 million followers to invest in the token.

WIZ Value Plummets Following a Brief Surge
The WIZ memecoin launched via the Solana platform pump.fun, initially reaching a market cap of $3.4 million within the first 15 minutes. Shortly after, however, its value plummeted as early holders sold off their tokens in large amounts, bringing WIZ down to under $28,000. According to DEX Screener, the token is currently valued around $8,400.

Profits from Token Manipulation
Data from Solscan reveals that the two largest holders bought over 155 million WIZ tokens at launch for approximately $19,100 and later sold them for a combined profit of $160,000.
Suspected Link to Another Hacking Incident
The hacker’s exact identity and how they accessed Khalifa’s account remain unknown. However, blockchain detective ZachXBT noted that this hacker is likely the same individual who compromised Truth Terminal developer Andy Ayrey’s account on October 29. Zach warned on November 3 in his public Telegram group, “Do not buy Wiz Khalifa’s Pump Fun token; it’s the same hacker who recently compromised Andy Ayrey.”
Repeated Account Hacking Pattern
The hack of Ayrey’s account followed a similar strategy—using the account to promote fraudulent memecoins, yielding over $1.5 million in illicit gains.
Significant Drop in Other Memecoins
Truth Terminal, which employs an AI bot, was responsible for inflating the value of the memecoin Goatseus Maximus (GOAT) to a peak of $940 million. However, GOAT’s market cap has since fallen by 39%, currently at $544 million since October 24.

What’s Your Take on Social Media Security?
Do you think stricter security measures should be implemented? We’d love to hear your thoughts in the comments!
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