Drake's X account hacked to promote fake coin Anita

Drake's X account was compromised to promote a fraudulent meme coin named "Anita," drawing attention to the increasing prevalence of crypto scams on social media platforms. 

On December 14, blockchain investigator ZachXBT revealed that the hackers misused Drake's account to falsely claim that the coin was developed in partnership with Stake, a gambling company associated with the rapper since 2022. 

The post included a smart contract address and promotional material, lending an air of legitimacy to the scam. 

Drake’s known interest in cryptocurrencies likely made the deception more convincing. 

Despite the fraudulent content being removed, the scam managed to generate approximately $5 million in trading volume before traders recognised it as a fraud.

This incident highlights a troubling trend of high-profile accounts being exploited for scams on X. 

In recent weeks, several notable accounts, including those belonging to organisations like the Cardano Foundation, have also been compromised to create false legitimacy for fraudulent tokens or fake airdrops.

Blockchain security firm Scam Sniffer reported a rise in fake crypto-related accounts on X, with over 300 appearing daily, up from 160 in November. 

Scammers often impersonate influencers to lure users into fraudulent Telegram groups.

Once inside these groups, victims are instructed to verify their identity using a bot called OfficialSafeguardBot. 

This bot employs social engineering tactics to trick users into executing harmful commands that can install malware designed to access crypto wallets and steal sensitive information.

The report indicates that this new phase of crypto scams combines phishing, malware deployment, and social engineering tactics. 

Users are urged to remain vigilant and avoid engaging with suspicious crypto offers or accounts.

Drake’s experience is part of a broader pattern where hackers exploit the influence of celebrities and trusted brands to promote scams. 

Other musicians like Wiz Khalifa and Cardi B have also been victims of similar tactics.