NBA Instagram Account Reportedly Compromised to Promote Fake Meme Coin
(3 hours ago) · 1 source · Summarized by CryptoBipto
The NBA's official Instagram account was reportedly hacked and used to promote a fake meme coin. This marks at least the second time the organization's social media accounts have been compromised for cryptocurrency scam purposes.
WHY IT MATTERS
When a trusted account like the NBA's Instagram gets hacked, scammers use its massive audience to trick people into buying worthless cryptocurrency tokens. Think of it like someone breaking into a famous store and putting up fake sale signs — people trust the store's name and may fall for the scam before anyone notices. A 'meme coin' is a type of cryptocurrency often created as a joke or around internet trends, and many are launched purely to scam buyers. These hacks are a reminder that even posts from verified, well-known accounts can be fraudulent, and readers should be cautious about any social media post promoting a new cryptocurrency token.
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- beincrypto.com
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