Laura Kuenssberg’s X account put out an eyebrow-raising tweet this morning:
Sure enough half an hour later Laura’s account tweeted a link to a new ‘BBC coin’ on platform Solana. A hack…
The founder of the coin sold most of their supply straight away in a memecoin strategy known as a “pump and dump.” Inflate the price, sell your majority supply, run away…
Luke Nolan, research associate at digital asset group CoinShares, explains that the “deployer” held about 80% of the token supply and started selling immediately:
“It’s fairly typical to see this playbook: An X account gets hacked, a link to a new “memecoin” gets posted and unsuspecting users buy in, only to have their hopes crushed by these malicious actors.”
The predators made only a small amount of money (a few grand) and the coin is now rapidly approaching zero value. No doubt some regular punters lost cash. Kuenssberg’s tweet has now also been deleted. Brave new world and that…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”
