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The social media account of popular rapper Amala Ratna Zandile Dlamini, popularly known as Doja Cat, was reportedly hacked to promote a scam cryptocurrency, resulting in investor losses of more than $1.6 million.
What Happened: The scam coin, named “DOJA,” saw its market capitalization surge to $1.65 million following promotion through the hacked account, as per Daily Trends, a well-known source of celebrity news. However, it soon crashed to a market cap of just $16,820, causing substantial losses for investors.
An image of the deleted scam post was shared, featuring Doja Cat in armor and encouraging followers to “buy DOJA or else.” Some other snippets of the deleted posts showed profanity used against fellow rapper Iggy Azalea, who launched her MOTHER token last month.
Doja Cat denied any involvement in the post, stating in a video, “It is not me. It is literally an imposter!”
Why It Matters: This incident is part of a growing trend of celebrity social media accounts being hacked for promoting scam coins.
Last month, the social media account of Metallica, a renowned heavy metal band, was exploited to promote a Solana (CRYPTO: SOL)-based memecoin, leading to a market cap spike and subsequent crash. The X account of rapper 50 Cent was compromised just a few days earlier to execute a cryptocurrency pump-and-dump scam.
Similarly, a Hulk Hogan-themed memecoin lost $15 million in market cap within minutes after the wrestling legend allegedly deleted social posts promoting the cryptocurrency.
Photo Courtesy: Wikimedia
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Posted In: $SOL
