According to Odaily, an investigation by ZachXBT has revealed a connection between the 'Sol' memecoin team and a recent hack on GCR's social media. Prior to the cyber attack, an address associated with the memecoin team opened a long position on Hyperliquid with $2.3 million ORDI and $1 million ETHFI. The 'Sol' team targeted the launch of their CAT, controlling 63% of the supply and profiting $5 million, which was then transferred to multiple wallets and cross-chained.
Through a timeline analysis, multiple addresses on Ethereum and Arbitrum linked to the team were identified. One such address, 0x5e…adc8, opened a long ORDI position at UTC 5:45-5:46 pm. At UTC 5:55 pm, the GCR Twitter account was hacked and a post about ORDI was published, causing a price surge. Subsequently, 0x5e…adc8 closed the ORDI long position, profiting $34,000. GCR issued a theft warning from another account. The hacker later posted about ETHFI, but 0x5e…adc8 closed the position at a loss of $3.5k.
This investigation highlights the potential risks and vulnerabilities associated with cryptocurrency and social media platforms. It also underscores the importance of robust security measures to protect against such cyber attacks.
Joy