Hackers Use Nasdaq’s X Account in $80M Fake Meme Coin Scam

The official X account of the global electronic marketplace Nasdaq was apparently hacked and used to promote a fake meme coin named STONKS. Blockchain data shows that the bogus token’s market cap skyrocketed to $80 million before eventually collapsing. The attackers took control of the Nasdaq account and linked it to a fake X profile, @nasdaqmeme, complete with a gold verified badge marking it as an affiliate. They then made a post promoting the fake STONKS coin and retweeted it with the Nasdaq account, which has over 133,000 followers. The retweet and the apparent connection between the two accounts created a facade of credibility, duping unsuspecting investors into buying the token. Within hours, STONK’s value soared 390 times its original price, with data from DEXscree.