Hacked Kylie Jenner Account Promotes Meme Coin, Sparking Copycats

Kylie Jenner's X (formerly Twitter) account was hacked to promote a Solana-based meme coin called 'kylie.' The incident highlights ongoing risks of social media account hacks being used to pump and dump crypto tokens.

The token's market cap surged to nearly $1.19 million before plummeting about 68%. The posts promoting the coin were quickly deleted, but not before they sparked several copycat tokens on the Solana network, some reaching over $1 million in market cap briefly.

This event is a reminder of the risks faced by investors when it comes to social media account hacks and their impact on crypto markets. It also raises concerns about the potential for pump and dump schemes, which can affect investor trust and market stability.