It appears NASDAQ’s Twitter (X) account was hacked and used to promote memecoin ‘STONKS’

Here is the summary of reports coming out:

Nasdaq’s official X (formerly Twitter) account was hacked and used to promote a fraudulent memecoin called STONKS.

• The hacker falsely linked a fake X account as a Nasdaq affiliate and retweeted a post about the token, which had been created the same day.
• The misleading post has since been deleted, and the fake account has been suspended.

The STONKS memecoin was a copycat of an existing token on the Solana blockchain, which owns the intellectual property of the meme. Despite its fraudulent origins, the token’s market capitalization briefly soared to $80 million before crashing.

This attack is part of a broader trend of high-profile X account hacks, where celebrities and institutions have been targeted to promote scam cryptocurrencies. Nasdaq has not yet responded to requests for comment.

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This article was written by Eamonn Sheridan at www.forexlive.com.