Hackers compromised the Chinese DEX exchange PanCakeSwap‘s social media account to promote the fake memecoin Sir Pancake.
The PancakeSwap team confirmed the hack and asked users not to click on links posted on the account.
Our team is investigating the issue to resolve it. Updates will only be posted on this official PancakeSwap account,» the PancakeSwap team wrote.
In a series of posts that were later deleted, the attacker advertised a scam token, which, according to some community members, immediately after its launch reached a trading volume of $20 million.
According to data from the Dexscreener platform, the controversial meme coin has fallen more than 50% in the last six hours, bringing its market cap to $2,6 million. Meanwhile, trading volume has reached approximately $45,2 million, indicating that users have been actively trading Sir Pancake.
Typically, such security incidents involving official accounts negatively impact investor sentiment, but holders of CAKE, the native token of the PancakeSwap exchange, appear unconcerned, in part due to the protocol’s strong performance in recent weeks. Over the past 24 hours, kriptovalyuta has risen in price by more than 10%.