Explosive Connections Uncovered Between SOL Coin Team and Enormous GCRClassic Hack – Millions Gained!
The crypto world is in shock after it was revealed that the creators of the meme coin, Sol ($CAT), hacked an influential Twitter account and manipulated the market for their own gain. Blockchain investigator ZachXBT has uncovered a web of deceit, including insider trading, market manipulation, and significant financial profits. This revelation has raised concerns about the risks involved in the crypto community.
The investigation began with the discovery that the Sol team initiated bearish positions on Hyperliquid, worth a staggering $2.3 million in ORDI and $1 million in ETHFI, before the hack took place. These suspicious transactions were linked to the launch of the meme coin, implicating the Sol team in a manipulation spree that allowed them to gain control of 63% of the $CAT supply. They quickly siphoned off profits exceeding $5,000,000 and distributed them among hidden wallets.
Further investigation revealed that an address, 6M54xEUamVAQVWPzThWnCtGZ7qznomtbHTqSaMEsUHPF, received around 15,000 SOL (equivalent to $2.5 million) from the sale of $CAT. This address then made similar transactions with Kucoin and MEXC, followed by withdrawals in Ethereum and Arbitrum. The hackers took advantage of compromised GCRClassic posts about ORDI on Hyperliquid to manipulate the price and profit from their long positions. Evidence suggests that they attempted similar schemes with ETHFI as well.
This incident serves as a wake-up call for the crypto community and highlights several important lessons. Firstly, it reminds us to be cautious of impersonators who exploit reputable accounts to manipulate markets for their own gain. Meme coins, like $CAT, are particularly vulnerable to volatility, making them even riskier than traditional venture capital coins. Platforms need to exercise vigilance when promoting meme coins, as the intentions of the promoters may not align with the interests of the community. Lastly, there is a need for increased awareness and protection against cyber threats such as SIM swaps and phishing scams, as they play a role in fueling meme coin marketing schemes.
ZachXBT’s investigation has shed light on the misconduct in the crypto world. Although this hack may not have been the largest in scale, its implications are far-reaching. Armed with this knowledge, the crypto community can better defend against similar schemes in the future.