Dogwifhat’s X Account Hacked to Promote Fraudulent Meme Tokens

The X account of Dogwifhat, a dog-themed meme coin, was hijacked on Nov. 14 to promote Solana-based tokens. Scammers used the compromised account to inflate the prices of three meme coins before dumping them.

Key Points:

• Hackers promoted POPWNUT, MUU, and WIFD using Dogwifhat’s X account.
• Token prices surged briefly before crashing as scammers liquidated holdings.
• Dogwifhat developers regained account control and removed scam-related posts.

Attackers first promoted MUU, a token created less than a month ago, to Dogwifhat’s 115,000 followers. They shared contract addresses, encouraging purchases. Following the posts, MUU’s price hit an all-time high but soon collapsed when scammers sold their holdings.

Two other tokens, WIFD and POPWNUT, followed a similar trajectory. Both saw price surges before dropping over 83% within six hours. Their market caps stood at $12,000 and $37,000, respectively, at press time.

Web3 security firm Harpie confirmed the hack and advised users to avoid engaging with the fraudulent posts. Observant community members also raised alarms about the compromised account.

Dogwifhat’s developers quickly regained control and restored the account. They deleted the scam posts and reverted the profile to its original state. Despite the incident, Dogwifhat’s native token (WIF) remained stable, with only a 17% price dip, primarily attributed to Bitcoin’s 2.4% decline.

This hack occurred days after WIF was listed on Coinbase, which had boosted its price past $4 for the first time since April. The token gained over 50% in the past week before the attack.

Scams involving compromised X accounts are becoming a trend. In September, Decentraland’s X account was hacked to promote a fake airdrop phishing scheme amongst others.