{"id":21207,"date":"2025-02-17T15:29:43","date_gmt":"2025-02-17T13:29:43","guid":{"rendered":"https:\/\/forklog.com\/en\/fraudsters-launch-fake-meme-coin-in-the-name-of-saudi-prince\/"},"modified":"2025-02-17T15:29:43","modified_gmt":"2025-02-17T13:29:43","slug":"fraudsters-launch-fake-meme-coin-in-the-name-of-saudi-prince","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fraudsters-launch-fake-meme-coin-in-the-name-of-saudi-prince\/","title":{"rendered":"Fraudsters Launch Fake Meme Coin in the Name of Saudi Prince"},"content":{"rendered":"<p>On February 17, hackers breached the X-account of Saudi Arabian Prince Mohammed bin Salman, announcing the imminent launch of the country&#8217;s &#8220;official&#8221; meme coin (KSA). It was later revealed that the account belonged to the Saudi Legal Conference.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#PeckShieldAlert<\/a> Our community member has reported that the <a href=\"https:\/\/twitter.com\/SaudiLawConf?ref_src=twsrc%5Etfw\">@SaudiLawConf<\/a> account appears to be hacked and is promoting <a href=\"https:\/\/twitter.com\/hashtag\/meme?src=hash&#038;ref_src=twsrc%5Etfw\">#meme<\/a> <a href=\"https:\/\/t.co\/UmC3vNtQIT\">pic.twitter.com\/UmC3vNtQIT<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1891416089185128536?ref_src=twsrc%5Etfw\">February 17, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Officials confirmed the hack and <a href=\"https:\/\/www.linkedin.com\/posts\/saudilawconf_%D8%A8%D9%8A%D8%A7%D9%86-%D9%87%D8%A7%D9%85-activity-7297165656486010880-9Pco\/\">stated<\/a> they have no connection to the project.<\/p>\n<p>Suspicions about the legitimacy of KSA arose immediately after its announcement. The complete lack of technical information about the project indicated no ties to official Saudi representatives.<\/p>\n<p>Another serious warning for investors was that the KSA smart contract was created on February 10 \u2014 a week before the announcement. The token was <a href=\"https:\/\/pump.fun\/coin\/676BcVexAAsjk3kCZvTMmDhXqMNCNY9ak4nYguadpump\">launched<\/a> on the Pump.fun platform based on the Solana blockchain. The market capitalization of the fake meme coin has reached only $7489 since its launch.<\/p>\n<p>The &#8220;announcement&#8221; of KSA occurred amid a boom in meme coins associated with political figures.<\/p>\n<p>Previously, the LIBRA token, promoted by Argentine President Javier Milei, plummeted by 94% due to liquidity withdrawal by insider wallets.<\/p>\n<p>Earlier, Bubblemaps established a connection between the teams behind the LIBRA and MELANIA meme tokens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 17, hackers breached the X-account of Saudi Arabian Prince Mohammed bin Salman, announcing the imminent launch of the country&#8217;s &#8220;official&#8221; meme coin (KSA). It was later revealed that the account belonged to the Saudi Legal Conference. #PeckShieldAlert Our community member has reported that the @SaudiLawConf account appears to be hacked and is promoting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1368,1246,596],"class_list":["post-21207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-saudi-arabia","tag-scammers","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21207"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21206"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}