- Pudgy Penguins CEO Luca Netz‘s Instagram account was reportedly hacked and used to promote a new token called $IGLOO.
- The incident was first reported on X (formerly Twitter) just before 09:00 GMT and confirmed by the company’s Ecosystem Growth Associate.
- Posts from the compromised account promoted $IGLOO, a token made using Pump Fun tools, with links to a contract address.
- The $IGLOO token quickly reached a market capitalization of about $16,000 and saw a trading volume of approximately $72,000 within 24 hours.
- Similar Hacking incidents have previously targeted high-profile accounts, including the official UFC Instagram, to promote fraudulent tokens.
The Instagram account belonging to Pudgy Penguins CEO Luca Netz was reportedly compromised on Wednesday, leading to the unauthorized promotion of a token named $IGLOO. The token was publicized via stories on the account using Pump Fun technology, drawing reports from community members around 09:00 GMT.
The hack came to public attention after a self-proclaimed NFT expert known as JBond alerted followers on X (formerly Twitter). Pudgy Penguins Ecosystem Growth Associate “Becca” confirmed the breach shortly afterward. A post on Netz’s hijacked Instagram story directed users to a contract address linked to the $IGLOO token.
“PSA, @LucaNetz Instagram account might be hacked.”, wrote JBond. “He posted about a new token $IGLOO representing @IglooInc treasury with an obnoxious CA address made via @pumpdotfun. If anything, this is not how @pudgypenguins team moves.” JBond cautioned users, advising, “I’d advice you to be careful until we hear from the team.”
While the original Instagram story post was removed, another video linking to a different token contract address remained accessible at the time of reporting. Despite skepticism in the community—summed up in a post by another X user stating, “if luca launches a token it won’t be from a Pump Fun link bro,”—the $IGLOO token reached a reported market cap of nearly $16,000 and a 24-hour trading volume of $72,000.
Taking over major social media accounts is a known method Hackers use to promote and profit from fake tokens. Earlier this year, the official UFC Instagram account was also compromised to sell a fraudulent memecoin. The hackers posted, “UFC fans have been waiting, and the moment is here. Get ready to own the legacy. Precision. Strength. All in one coin. #UFC #UnleashTheFight.” That token was similarly advertised on the UFC’s Instagram story.
For more information, see the X alert by JBond, Becca’s confirmation, and the commentary by other X users regarding the authenticity of such projects.
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