CoinSwitch, one of India's leading crypto exchanges, had its official Twitter account hacked, leading to the promotion of a fraudulent token called SWITCH. The attackers falsely claimed that SWITCH was CoinSwitch's native token set for trading launch. CoinSwitch CEO Ashish Singhal confirmed the breach, reassured users that their funds were safe, and regained access to the account to delete the misleading post. Investigation revealed that the scam token was created on Pump.fun, a platform known for launching questionable memecoins. SWITCH had a market capitalization of just $4,075 and was priced at a very low value. CoinSwitch emphasized that it has no affiliation with the token.



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