Hackers took control of the social media account of former Malaysian Prime Minister Mahathir Mohamad and promoted a fake meme coin called MALAYSIA. This incident is part of a growing trend of meme coin scams with a political theme. The hackers responsible are likely affiliated with the Russian hacking group Evil Corp. The fraudulent post endorsing MALAYSIA was removed after an hour, but the hackers managed to steal $1.7 million before that. Similar scams have targeted former Brazilian President and even used the name of the US Treasury. Scammers are also targeting users on platforms like Coinbase and Telegram. Analysts believe that the popularity of meme coins has diverted attention and investments away from other altcoins, making fake tokens more attractive to speculative investors.



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