Scammers hacked the social media account of former Brazilian president Jair Bolsonaro and promoted a fake meme coin called BRAZIL. The coin's value soared by over 10,000%, allowing the scammers to make more than $1.3 million. This incident follows a trend of political meme coins that have emerged recently. Despite Bolsonaro's lack of involvement in the crypto industry during his time as president, scammers targeted his account for the scam. The rise of political meme coins, such as the TRUMP coin, has made them a lucrative target for scammers. This poses a risk to the crypto community's reputation, as scammers exploit newcomers and tarnish the legitimacy of such coins.



Other News from Today