The social media account of popular rapper Amala Ratna Zandile Dlamini, popularly known as Doja Cat, was reportedly hacked to promote a scam cryptocurrency, resulting in investor losses of more than $1.6 million.
What Happened: The scam coin, named “DOJA,” saw its market capitalization surge to $1.65 million following promotion through the hacked account, as per Daily Trends, a well-known source of celebrity news. However, it soon crashed to a market cap of just $16,820, causing substantial losses for investors.
Doja Cat denied any involvement in the post, stating in a video, “It is not me. It is literally an imposter!”
Why It Matters: This incident is part of a growing trend of celebrity social media accounts being hacked for promoting scam coins.
Similarly, a Hulk Hogan-themed memecoin lost $15 million in market cap within minutes after the wrestling legend allegedly deleted social posts promoting the cryptocurrency.
Photo Courtesy: Wikimedia
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