My X Account Was Hijacked to Sell a Fake WIRED Memecoin. Then Came the Backlash

In theory, the more prominent the X account, the greater the potential return on the pump-and-dump, because many more people are likely to buy into the coin the scammer promotes. I tweet infrequently—mostly links to my articles—and have fewer than 2,800 followers, making me somewhat of an unlikely target. But I was valuable to the scammer for the likelihood that I am considered a trusted authority in my capacity as a crypto reporter. “The greater exposure during the pump, the more likely it is that multiple inventors will buy into the messaging and buy into the eventual dump of the coin,” says John Powers, president at private investigation agency Hudson Intelligence. X did not respond to a request for comment. Though crypto coins have been used in pump-and-dump schemes for years, these maneuvers have become easier to execute with the arrival of memecoin launchpads, which allow anybody to create a coin instantly, at no cost. In my case, the scammer minted the WIRED-branded coin usin ... Read full article.