Adele, Future, Michael Jackson Instagram Accounts Hijacked for Crypto Scam
Decrypt's Art, Fashion, and Entertainment Hub has learned that the Instagram accounts of superstar musicians Adele, Future, Tyla, and the late Michael Jackson were hacked in a shocking cryptocurrency scam on Thursday. The hacker used the celebrities' pages to share now-deleted posts promoting an unaffiliated Solana meme coin.
The posts featured an AI-rendered image of Future holding an oversized coin inscribed "FREEBANDZ," which is the name of a record label and clothing line connected to the rapper. However, it appears that the cryptocurrency does not have any actual connection to Future or his apparel brand.
Michael Jackson's Instagram account was also compromised in the hack, with the hacker using the late musician's page to promote the Solana meme coin. The accounts of Tyla and Adele were similarly hacked, leading to a brief but dramatic surge in the price of the cryptocurrency.
The Rise and Fall of the Meme Coin
The Solana meme coin was created on popular token launchpad Pump.fun and briefly ran to an all-time high market cap just shy of $900,000. However, its price collapsed by nearly 98% in a matter of minutes, falling to just $20,000.
The creator of the Solana meme coin—a Solana address ending in "zcmPHn"—dumped 700 million tokens, or 70% of the total supply in a single transaction. This move sent the price crashing down, with the rug-puller walking away with 251.57 SOL, or more than $49,000 at today's Solana price.
The Pattern of Hacking and Pump-and-Dump Schemes
Hacking popular social media accounts to promote meme coins and other crypto scams is not a new phenomenon. Earlier this year, the UFC's official Instagram account was hacked, leading to $1.4 million in losses for crypto users.
And the creator of the character "Chill Guy" had his account stolen multiple times after a Solana meme coin based on the viral TikTok craze blew up to a $650 million market cap. Even high-profile figures such as Barack Obama and Elon Musk have seen their social media accounts swiped and misused in malicious crypto schemes.
Malicious actors typically seek to use prominent social media accounts to pump the value of a coin before selling and crashing the price—a classic pump-and-dump scheme. By using popular celebrities' accounts, the hacker hoped to create a sense of credibility and legitimacy for the Solana meme coin.
The Repercussions and Lessons Learned
None of the celebrities who were compromised in Thursday's hack have made public statements on Instagram or X as of Friday afternoon. However, this incident serves as a stark reminder of the dangers of cryptocurrency scams and the importance of being cautious when investing in new tokens.
The case highlights the need for social media platforms to improve their security measures to prevent such hacks from happening in the future. It also underscores the importance of educating users about the risks associated with pump-and-dump schemes and the importance of conducting thorough research before investing in cryptocurrencies.