The hack of Vivek Ramaswamy’s X account propagated bogus DOGE-USUAL collaboration rumors, leading USUAL’s price to rise 38%.
Hacked was US Department of Government Efficiency (D.O.G.E.) co-leader Vivek Ramaswamy’s X account. The hack spread bogus information regarding a collaboration between D.O.G.E. and stablecoin project USUAL, causing the token’s price to rise.
Ramaswamy purportedly announced a strategic partnership between D.O.G.E and USUAL, a fiat-backed RWA stablecoin issuer, on his X account.
The false article claimed the alliance used crypto projects to help the Trump administration reduce the federal budget deficit. It further stated the agreement will improve government transaction efficiency and economic prudence.
$USUAL rose 31.08% to $1.61 as the news garnered notice. According to CoinMarketCap, its 24-hour trading volume declined 7.76% to $1.6 billion, while its market capitalization rose 38.73% to $720.2 million.
Ramaswamy’s team confirmed that his account was hacked, dispelling the rumor. After removing the post, the team quickly retook possession.
Invest Azoria founder James Fishback revealed that the partnership promises were a hoax. “I just chatted with Vivek. Hacker got him. Unable to access account.” X user Fishback called this a fraud.
Hackers presumably targeted Vivek’s account because of his government influence, including co-leading D.O.G.E. with billionaire Elon Musk. He is one of the “most watched” figures and a flashpoint for Trump administration opponents and supporters.
Social media hacks pushing bogus bitcoin schemes are rising. Such instances sometimes use public confidence to launch pump-and-dump scams.
Earlier last week, hackers accessed Anthropic’s X account and promoted a bogus token dubbed ‘CLAUDE.’
The fake CLAUDE page stated the token will encourage AI and crypto initiatives and gave a wallet address for “investors.” Twitter erased the message after 30 minutes. Speculative investors gave the attackers $100,000, according to on-chain statistics.
The hackers acquired 10% of the CLAUDE token’s supply across multiple wallets and promptly liquidated their holdings for profit, according to additional analysis. The fraudsters also claimed the token focused on AI agents, taking advantage of the increased interest in AI initiatives.
Several celebrities were targeted this month. On December 15, hackers hacked Drake’s X account and promoted Anita, a meme currency. Drake’s 39 million followers propelled the token’s $4.9 million trading volume within hours, supposedly connected to his Anita Max Wynn tour.
According to the post, the token was the result of a partnership with Stake, a wagering platform that Drake is known to endorse. Before blockchain specialists like Zachxbt detected the coin as a fraud, trade activity reached over 7,000 purchase orders.
Similar breaches have affected other celebrities. Cardi B and Doja Cat were hacked in December 2024, and TikTok star Halley Welch, famed for her popular “Hawk Tuah” video, is being sued for pushing the HAWK token.
After reaching $400 million in market worth, the token crashed, leaving investors and Welch’s supporters with substantial losses. Welch has not addressed the rug pull claims.
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