Kylian Mbappe is the latest celebrity to be linked to meme coins on social media, following the compromise of his X (formerly Twitter) account. The French football star’s account was hacked, and the attackers used his profile to promote meme coins, attempting to capitalize on his popularity.
This incident highlights ongoing concerns in the crypto markets about celebrity-associated meme coins, especially after a series of similar hacks.
Kylian Mbappe’s X Account Hacked to Shill MBAPPE Meme Coin
The X account of Kylian Mbappe, the star player for the France national team and Real Madrid, was hacked, leading to the release of a token called MBAPPE. According to WuBlockchain, the post promoting this token has since been deleted.
The token’s market value surged quickly upon its release but lost all gains soon, illustrating the volatility and risks associated with such assets.
Read more: Crypto Scam Projects: How To Spot Fake Tokens
According to WuBlockchain, one trader got ahead of the price surge, raking in up to $200,000 in profit.
“French football star Kylian Mbappe’s Twitter account was hacked and released the token MBAPPE, which has now been deleted. The market value of MBAPPE tokens surged to tens of millions in a few minutes and then quickly returned to zero. A user bought 2 SOL (about $286) and sold it at a high point for a profit of about 1,398 SOL (about $200,000),” read the report.
While the first trader got lucky, another was rekt as Lookonchain reports a new wallet losing up to $1 million within an hour. Specifically, they spent $1.03 million to buy MBAPPE in a single transaction before their portfolio shrunk to a meager $9,200.
“Someone created a new wallet and spent 7,156 SOL ($1.03M) to buy a meme coin named MBAPPE in a single transaction, which is now only worth $9,200. This person lost more than $1 million in just 1 hour,” Lookonchain shared.
Read more: How to Buy Solana Meme Coins: A Step-By-Step Guide
Kylian Mbappe is yet to clarify the matter on his X account. Nevertheless, these developments highlight the high volatility nature that is characteristic of meme coins. It also indicates the need for caution when interacting with new tokens.
MBAPPE is not the first celebrity-inspired meme coin to go berserk. BeInCrypto recently reported about WATER, a meme coin associated with Argentine star Lionel Messi. Other celebrities whose social media accounts were hacked in the past include Metallica and 50 Cent.
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