Nasdaq X account compromised to promote scam meme coin

The official account of Nasdaq on the X social media platform was briefly compromised with hackers using the attack to promote a fake meme coin known as STONKS. 

In a familiar scam that we have seen before, the malicious actors then connected a scam affiliate account to the stock market index profile, resulting in an X repost to promote the supposed token. 

The attack appeared to have the desired effect, with the fictitious STONKS rising fast to 80 million in market cap. What makes it even more deceitful is that a pre-existing meme coin with the same name launched on the same day on Solana, but that was the legitimate version, holding all of the IP rights. 

The boom of the copycat version proved to be short-lived, with its value crashing just days later, as reported by the crypto tracking platform, DEXscreener.