Memecoin Mayhem: Hackers Hijack Celebrity Instagram Accounts to Pump Shady Tokens – Full Breakdown
Instagram's blue-check chaos turns into crypto free-for-all as high-profile accounts become unwitting shills for dubious digital assets.
The Playbook: How It Works
Attackers compromise verified accounts through sophisticated phishing schemes—then pivot immediately to cryptocurrency promotion. Followers see seemingly legitimate posts pushing unknown tokens with promises of guaranteed returns.
Security researchers note these campaigns share identical patterns: urgent language, limited-time offers, and links to unauthorized smart contracts. Several celebrities discovered their hijacked accounts only after followers reported suspicious activity.
The Aftermath: Quick Profits, Faster Disappearances
These pump-and-dump schemes typically generate six-figure sums within hours before liquidity vanishes. The tokens—often parody coins or outright scams—crash moments after promotion ends.
Another day, another reminder that if something looks too good to be true in crypto, it's probably a hacked celebrity account. But hey—at least the scammers are keeping up with influencer marketing trends.
Celebrity Profiles Hacked, Memecoin Crashes After $900,000 Pump
In an X post on Friday, popular media outlet NFR Podcasts reported that Instagram accounts belonging to the late Michael Jackson, as well as artists Adele, Tyla, and Future, had been simultaneously compromised to promote a scam memecoin. The fraudulent posts shared across the accounts featured an image of Future holding an oversized coin branded FREEBANDZ — the same name as the rapper’s music label and clothing brand. The imagery appeared designed to create a false sense of endorsement and legitimacy for the token.
Although the posts have since been removed, Future’s Instagram account was ultimately disabled. And as of now, none of the affected parties has issued public statements regarding the incident. According to data from Dexscreener, the token briefly surged upon launch, reaching a market cap of nearly $900,000 before collapsing to around $15,000 in about 30 minutes.
Michael Jackson, Future, Tyla, and Adele’s Instagram accounts were hacked simultaneously pic.twitter.com/MCMPcU41Ww
— NFR Lite (@NFR_Lite) August 22, 2025
On-chain data suggests the scam’s orchestrator may be linked to a wallet address ending in zcmPHn, which dumped 700 million FREEBANDZ tokens, securing 251.41 SOL valued at approximately $45,600. Another wallet, ending in bTp, also walked away with an additional $13,300 after swapping 85.6 million FREEBANDZ. The rapid pump-and-dump underscores the risks surrounding memecoins and the ease with which hackers exploit high-profile names to lure in unsuspecting investors. In late 2024, for instance, rapper Drake’s X account was also compromised to promote a solana memecoin called $ANITA, which generated around $5 million in trading volume before collapsing. Meme coins remain largely unregulated, and the SEC has previously clarified that most do not qualify as securities, likening them instead to speculative collectibles with no underlying promise of profit. This regulatory gap has made memecoins fertile ground for these kinds of scams, highlighting the need for caution among traders.
Kanye West’s YZY Under Scrutiny For Insider Trading
In other developments, rap legend Kanye West has become embroiled in another memecoin controversy. According to Bitcoinist, the YZY token skyrocketed to a $3 billion market cap at launch before plunging more than 70% within hours. On-chain data shows several wallets were pre-funded and primed to buy immediately after Ye’s announcement, fueling suspicions of insider trading. Notably, 13 wallets collectively walked away with $24 million in profits from the YZY frenzy. The token now trades at $0.705, with a fully diluted valuation (FDV) of $699.3 million.
