Hacked Mbappé Twitter Account Fuels $1M Scam, Results In Wild Gains And Losses For Traders

The Twitter account of French football star and Real Madrid icon Kylian Mbappé (@KMbappe) was recently compromised, leading to a $1 million scam that rocked the cryptocurrency community.

Hackers used Mbappé’s profile to promote a fraudulent coin dubbed $MBAPPE, causing its market value to skyrocket before plummeting to zero. Although the tweet has since been removed, the damage was already done.

Don’t fall for the $MBAPPE scam.#SafetyFirstAlways pic.twitter.com/kCfdS9GatI

— Crypto.com (@cryptocom) August 29, 2024

The $MBAPPE coin, driven by the hype from Mbappé’s hacked account, saw its market value surge to tens of millions within minutes, only to crash just as quickly.

One unfortunate investor created a new wallet and spent 7,156 $SOL, worth approximately $1.03 million, on $MBAPPE in a single transaction. In less than an hour, the value of these tokens had dropped to just $9.2K, leading to a devastating loss of more than $1 million.

Someone created a new wallet and spent 7,156 $SOL($1.03M) to buy a #MEMEcoin named $MBAPPE in a single transaction, which is now only worth $9.2K.

This person lost more than $1M in just 1 hour!