Several Instagram profiles, which belong to Adele, Future, Tyla, and the estate of Michael Jackson, were recently taken over and used to promote a Solana
The cryptocurrency appears to have no real connection to any of the artists involved.
During the breach, the attacker shared posts, since removed, that showed an image generated by artificial intelligence (AI) resembling rapper Future holding a token marked “FREEBANDZ”.
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That name is associated with Future’s record label and fashion brand, which may have added to the confusion around the token’s legitimacy. However, there is no evidence that either the artist or his brand is connected to the token.
The token was launched on Pump.fun, a Solana platform known for creating meme tokens. After its release, the token’s market capitalization briefly climbed to nearly $900,000.
That rise ended when the creator, using a wallet with an address ending in “zcmPHn”, sold 700 million tokens in one transaction. This represented 70% of the token’s total supply and caused the value to drop steeply, which eventually settled around $20,000.
From that sale, the individual behind the dump gained 251.57 SOL, equivalent to over $49,000 based on Solana’s current price.
None of the affected artists had addressed the situation publicly, either on Instagram or on X.
Recently, cybersecurity firm CTM360 reported that scammers are running a campaign called “ClickTok”. What is it? Read the full story.
