KickStreaming’s official account was compromised, leading to the promotion of Solana-based scam tokens.
On December 4, the hacked account directed followers to suspicious wallet addresses, touting a fraudulent ‘Kick Token’ as a solution for the blockchain community and independent creators.
In response, Bijan Tehrani, co-founder of KickStreaming, took to social media to clarify that the so-called Kick token was not legitimate and that there were no active plans for any token release. He urged users to report the scam posts as the company worked to regain control of its account.
Surge in Scam Tokens
The prevalence of hacked social media accounts continues to be exploited by cybercriminals to promote fraudulent tokens, leveraging the credibility of established brands. In the cryptocurrency sector, these hacks can lead to severe consequences as users depend on reputable sources for guidance.
A recent example involved the hack of an account associated with an artist who was misrepresented as endorsing a meme coin. The artist publicly refuted the claims, stating that he did not authorize the use of his intellectual property for any crypto project.
Furthermore, the Solana blockchain, known for its rapid transactions and low fees, has increasingly become a hotspot for scammers. Recent incidents include the misuse of Solana’s “Permanent Delegate” feature, aimed at recovering mistakenly burned tokens, resulting in victims losing their funds during confirmed transactions.
