{"id":47686,"date":"2025-02-18T07:57:12","date_gmt":"2025-02-18T07:57:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hackers-exploit-saudi-crown-princes-name-in-fake-memecoin-scam\/"},"modified":"2025-02-18T07:57:12","modified_gmt":"2025-02-18T07:57:12","slug":"hackers-exploit-saudi-crown-princes-name-in-fake-memecoin-scam","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hackers-exploit-saudi-crown-princes-name-in-fake-memecoin-scam\/","title":{"rendered":"Hackers Exploit Saudi Crown Prince\u2019s Name in Fake Memecoin Scam"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Recently, cybercriminals promoted a fake memecoin called KSA by taking over the Saudi Law Conference\u2019s official X account. The token\u2019s introduction sparked concerns right away since it claimed ties to Crown Prince Mohammed bin Salman. Since then, the Saudi Law Conference has denied any connection to the cryptocurrency and acknowledged that their account was compromised.<\/p>\n

Social Media Hijack Leads to False Promotion<\/h2>\n

On February 17, the Saudi Law Conference\u2019s X account falsely announced the launch of KSA, a memecoin supposedly linked to Saudi Arabia\u2019s leadership. However, skepticism arose due to the token\u2019s lack of transparency, unclear tokenomics, and absence of official backing. Shortly after, the conference organization clarified the situation in a LinkedIn statement: \u201cWe confirm that we are working urgently to recover the account, and we fully disclaim any unofficial publications issued through it during this period. We also apologize to our followers for any inconvenience this may cause, and urge everyone to be cautious and not interact with any suspicious content published through the account until further notice.\u201d<\/em><\/p>\n

While the fraudulent token was officially promoted on February 17, its contract showed it was created a week earlier on Solana\u2019s memecoin launchpad pump.fun. Despite hackers attempting to capitalize on the Crown Prince\u2019s reputation, the KSA memecoin struggled to attract interest. Within hours of the so-called official launch, its market capitalization remained under $8,000.<\/p>\n

This incident highlights a worrying trend where hackers exploit verified or influential social media accounts to promote fake tokens. Similar scams have surfaced since the start of the year, often targeting accounts with large followings to mislead users.<\/p>\n

Although high-profile figures and organizations eventually regain control of their accounts, the damage is often done. In some cases, victims lose millions of dollars before these fraudulent schemes are exposed.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) Recently, cybercriminals promoted a fake memecoin called KSA by taking over the Saudi Law Conference\u2019s official X account. The token\u2019s introduction sparked concerns right away since it claimed ties to Crown Prince Mohammed bin Salman. Since then, the Saudi Law Conference has denied any connection to […]<\/p>\n","protected":false},"author":35,"featured_media":47687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47686"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47686"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47687"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}