The Dior coin fell greater than 90% after it was revealed to be a faux Solana meme coin promoted by a hacker on the Dior official account.
On Feb. 19, the official Instagram account for luxurious model Dior uploaded a put up selling a Solana (SOL) meme coin dubbed the Dior Official Coin alongside a pump.enjoyable deal with to entry the token. The put up was shared to the style account’s 46.8 million followers.
Many customers within the feedback part had been fast to suspect the account was hacked, whereas others joked concerning the Instagram admin needing cash.
“DIOR OFFICIAL COIN. The unique luxurious crypto on Pumpfun, Safe, modern, and prepared for the long run,” wrote the hacker on the put up’s caption, accompanied by an image of the Dior brand on a black backdrop with the Solana brand looming above it.
The put up disappeared not lengthy after the account was recovered. On the time of writing, the luxurious model nonetheless has not launched any official statements acknowledging the social media hack.
In accordance with information from GeckoTerminal, the Dior coin was launched on Solana by way of the favored meme coin launchpad pump.enjoyable on Feb. 19, its worth skyrocketed to 138% mere minutes after its launch. Up to now 24 hours, the faux Dior meme coin has gathered a buying and selling quantity of greater than $1 million.
Worth chart for the faux Dior coin launched pump.enjoyable, February 19, 2025 | Supply: GeckoTerminal. You may additionally like: Breaking Unhealthy’s Dean Norris’ X account hacked to advertise $8m crypto rip-off
After the account was recovered and the put up was deleted, the Dior coin took a plunge. The token is presently down by greater than 90%, with solely a slight 2% rise up to now hour. At current, there are round 876 merchants nonetheless holding onto the meme coin.
The Dior coin has a low liquidity of $8,730 and a completely diluted quantity of $6,430. Its market cap as soon as reached past $280,000, however now it stands at $6,430. In accordance with the token’s description, the faux meme coin claims to be an “unique token” that caters to loyal Dior consumers.
“Dior Coin is right here to shake up the crypto world! This unique token, launched on Pump.enjoyable, brings a contact of luxurious to the digital house. It’s not about purchasing Dior, however about proudly owning a bit of the long run in type,” learn the outline.
Earlier this month, the X account of Solana DEX aggregator Jupiter skilled an identical hack. The account was hijacked by scammers to advertise a faux meme coin impressed by Jupiter’s cat mascot referred to as MEOW.
Learn extra: Jupiter recovers official X account after scammers promote MEOW
