Jupiter Exchange X account hacked; perpetrator promotes fake memecoins

• Jupiter Exchange's official X account was hacked on Thursday.
• The hacker promoted fake memecoins on the JUP X account, resulting in rug pull.
• Investors should remain cautious and avoid trading fake memecoins.

Jupiter (JUP) exchange’s official X account was hacked on Thursday. A hacker compromised the JUP X account and promoted fraudulent memecoins, leading to a rug pull. Investors are advised to exercise caution and avoid trading memecoins of uncertain origin.

Jupiter exchange social media platform gets compromised

Jupiter exchange, Solana-based Decentralised Exchange (DEX) social media platform X, was hacked on Thursday. The account was used to promote fake meme cryptocurrencies.

The hacker posted the ticker $MEOW on Jupiter’s X account, which quickly surged more than 20 million in market capitalization; after that, they decided to remove the liquidity pool, making it impossible for anyone to sell the coins. The token appears to have taken its name from the pseudonymous co-founder of Jupiter, Meow.

“The main Jupiter Exchange account has been compromised,” Jupiter Mobile’s X handle wrote in a post, warning social media users not to click links. “Team is working on restoring access.”

Investors should remain cautious as the hacker uploads posts promoting another token with the ticker “DCOIN.” They should also avoid trading fake meme coins.