On May 26, a series of hacks compromised multiple X accounts belonging to cryptocurrency influencers and celebrities promoting various coins, causing a temporary price surge. One of the main targets was GCR, whose account was hacked and used to post promotional content for ORDI and Luna 2.0.
This led to a temporary price increase of over 5% for ORDI and a staggering 274% for Luna 2.0. Analysts noted that the hackers' choice to promote ORDI, which has a market cap of $856 million, was less effective in terms of potential profits than microcap coins. The incident highlighted the vulnerability of account security within the cryptocurrency community.
GCR X Account Hack
On May 26, GCR's X account, which boasts over 247,900 followers, was compromised. The hacked account posted promotional content for ORDI and Luna 2.0, causing the price of ORDI to temporarily increase by 6% and Luna 2.0 to rise by a whopping 274%. The incident is part of a wave of more significant attacks against celebrity X accounts, as suggested by the cryptocurrency community.
Bitcoin developer Woody Wertheimer suggested that GCR had previously warned about an ongoing operation targeting prominent Twitter accounts, and that heightened vigilance is recommended as niche celebrities launch meme coins and platform engineers may be away for long weekends.
Rich the Kid encourages his followers to buy RICH
American rapper Rich the Kid's X account, which has 2.3 million followers, posted a link encouraging people to buy a new token called “RICH,” created using the Solana-based meme coin tool pump.fun. Within two hours of launch, RICH had achieved a market cap of $90,000.
There is no official confirmation that Rich the Kid's account was hacked, but the posts promoting the token have since been removed.
Caitlyn Jenner or deepfake video?
American media personality Caitlyn Jenner’s X account recently endorsed a new meme coin called “JENNER,” which skyrocketed to a market cap of $27.1 million within about eight hours of its launch, according to a report by DEX Screener.
There has been debate within the industry over the authenticity of a promotional video of Jenner promoting the coin, with some speculating it may be a deepfake, but Jenner and her manager Sophia Hutchins have confirmed the legitimacy of the post and video.
Additionally, promotion of JENNERCoin spread to Jenner's Instagram account, and Hutchins subsequently created an X-Space on Jenner's account to reiterate that no deepfakes were involved.
In the video, Jenner directly addressed her 3.3 million X followers, acknowledging the authenticity of the cryptocurrency promotion and urging them to act fast: “Yes, this cryptocurrency that's on my account is real, and if you want to get in on this, hurry up, OK, get in now.”
The JENNER token launch also took place on pump.fun. Notably, the cryptocurrency wallet shared by Jenner matches that of adult content creator Kazumi, who was reportedly hacked while promoting his coin, ZUMI, on May 20.
Industry experts have expressed concern about JENNER's alleged ties to other tokens such as RICH, DOLL and SOULJA, but when questioned by X-Space, Hutchins claimed that the JENNER team was not aware of any such connections.
Trending Coin 5thScape Attracts Crypto Whales
While hackers are targeting crypto influencer and celebrity accounts to exponentially increase the value of crypto coins, 5thScape is different: 5thScape is the first AR/VR based crypto ecosystem with hyper-realistic games and educational resources.
Big crypto investors are looking to make the most undervalued investments and stay quiet until they see substantial profits, but sources say they are looking to make a profit on cryptocurrencies due to their potential and the usual 14-5% price appreciation.
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The 5thScape Ecosystem's 5SCAPE utility and transaction coin is currently in its presale phase, offering a complete VR environment, several VR-related games, and cutting-edge accessories such as chairs and headsets.
Moreover, the trending AR/VR coin has already raised $6.1 million in its first preliminary phase, showing its great potential. Token holders can use 5SCAPE tokens to buy games, which further vest in in-game purchases, subscriptions, and other products in the 5thScape universe.
It has a wide ecosystem support, and its scope goes beyond just gaming. Crypto analysts have also revealed that early investors will see a 600x return by 2025. In addition, token buyers will enjoy a number of benefits, including:
- Special discounts on products and content
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- Preliminary access to the VR ecosystem
- Double revenue opportunities with the Play to Earn ecosystem and coin trading
Analysis: 5thScape price prediction in 2024
The recently announced 5thScape project is currently in presale and has seen prices soar since then. The project is developing two major virtual reality sports games and has also provided teasers for three more games, with production on the third game set to begin shortly.
According to research, the VR market is expected to grow at approximately 22.91% annually between 2022 and 2025. Now is the perfect time for investors to gain 5SCAPE tokens to control the market and build a strong ecosystem and community. Moreover, the VR gaming business is predicted to expand even faster with a compound annual growth rate (CAGR) of 36% between 2023 and 2030.
5thScape price predictions for 2024 are an average of $0.0107, a high of $0.0109, and a low of $0.0045 for early presale investors to lock in profits.
Final Verdict
The hack of crypto influencer and Celebrity X's account highlights the weakness of account security in the crypto industry, and the need for increased vigilance from both influencers and their followers.
Hackers continue to adapt their tactics and exploit new trends, so it is essential to exercise caution when participating in cryptocurrency promotions.
This will protect you from potential risks and reduce the impact of future attacks. Amidst the turmoil, why miss the opportunity to invest in 5SCAPE and reap the maximum benefits?
