The cryptocurrency market’s popularity has been on the rise. This growing interest has attracted not just investors but also hackers. Recently, several celebrities have fallen victim to these cyber-attacks. American actress Sydney Sweeney is the latest target.

Hackers compromised Sweeney’s X account and used it to promote cryptocurrency. This cryptocurrency, named after her, made over $10 million in trading activity within two hours of its launch on July 2. However, the cryptocurrency’s value dropped nearly 90% in just over an hour, starting at 6:15 pm UTC. DEX Screener data shows its market cap is now $1.2 million, down from a peak of $3.85 million.

A hacked account promotes cryptocurrency

The hackers posted a message from Sweeney’s account, which has since been deleted. The post read, “Well, I think it’s time… $ Sweeney is now live 100mc incoming.” 

According to other posts from the hacked account, Sweeney was supposedly going to discuss the token live on X Spaces. The hackers also posted about a token burn and a giveaway. 

This incident is not the first time Sweeney has faced such a violation. In January, her account was used to promote a Solana meme currency with a sexual theme.

Growing trend of celebrity hacks

Many Crypto Twitter users quickly realized the messages from Sweeney’s account were likely fake. This incident follows a recent trend where several celebrities’ accounts were hacked to promote cryptocurrencies. Celebrities like 50 Cent, Hulk Hogan, and the band Metallica have faced similar issues. 

These hacks often involve promoting Solana meme coins created by Pump.fun. The scammers capitalize on the fame of these celebrities to draw attention to their fraudulent activities. 

Sydney Sweeney’s experience highlights a broader issue within the cryptocurrency market. The market’s rapid growth and increasing popularity have made it a target for cybercriminals. As a result, both celebrities and regular investors need to be cautious.

Implications and precautions of Sydney Sweeney hack

The rise in cryptocurrency-related hacks suggests a need for better security measures. Social media platforms should enhance their security protocols to prevent such breaches, and celebrities and public figures should also be more vigilant about their online security.

This incident also serves as a warning to investors. The rapid rise and fall of the cryptocurrency named after Sweeney shows how unstable and risky these assets can be. Investors should conduct thorough research and be wary of too-good-to-be-true offers.

The hacking of Sydney Sweeney’s X account shows the growing issue of cyber-attacks in the cryptocurrency market. It explains the need for better security measures and greater awareness among users. The incident serves as a reminder of the risks associated with investing in cryptocurrencies and the importance of vigilance in the digital age.

Also read: Standard Chartered Forecasts Bitcoin to Reach $100,000 Before US Election