Jupiter DEX Hacked: Millions Lost in Fake Memecoin Scam

Jupiter, a Solana-based decentralized exchange (DEX) aggregator, has been hit by a major security breach. The platform's X account was hacked, leading to a scam involving a fake memecoin called $MEOW. The scam, which used the name of Jupiter's co-founder, tricked traders into losing millions within minutes. Jupiter Mobile quickly alerted users, warning them not to click any links. However, the hacker continued posting about another suspicious token, $DCOIN. Many users reported losing their Solana tokens due to the breach. Criticism followed, with crypto investor Beanie questioning how a platform handling billions in liquidity failed to secure its social media.

In a separate incident, Jupiter founder Meow posted on social media that an employee, @9yointern, was returning to Singapore from Mountain Dao due to a family emergency. However, the employee's X account was later accessed by an Android phone from the United States, and attempts to contact her were unsuccessful. Jupiter's official account was suspected to be stolen and posted information about suspicious tokens. The company has asked for help in locating the employee or finding out what happened.

The security breach at Jupiter comes as a reminder of the importance of security measures in the crypto space. As the industry continues to grow, so does the need for robust security protocols to protect users and their assets. The incident also highlights the need for platforms to be vigilant in securing their social media accounts, as they can be a target for hackers looking to exploit vulnerabilities.