If you’re a celebrity with an official social media account, beware: hackers can strike at any time. They can potentially tarnishing your reputation. Over the years, hackers have infiltrated numerous X accounts. They post misleading promotions or outright lies to the community. Let’s find out what’s the scam around Tanzania token.
Notable figures like Barack Obama and Michael Jordan have had their accounts compromised. Their followers were misled into believing that these celebrities were launching tokens or meme coins. Yesterday, it was Mohammed Dewji’s turn. Dewji, a Tanzanian billionaire and head of the MeTL Group, is a prominent business figure both on the continent and globally, inspiring millions of followers.
Unfortunately, this popularity made him a prime target for hackers. On Wednesday morning, his X account began posting unusual promotional messages. It was endorsing a new token called $TANZANIA. Given his status as a public figure in East Africa, the idea of him launching a token named after his country seemed plausible at first glance.
However, it was later confirmed via WhatsApp by Dewji himself that he knew nothing about the $TANZANIA token; his account had been hacked.
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Dewji’s Deepfake and the TANZANIA Token
The video posted on X provided the first clue that something was amiss. A 10-second video was shared from his account. It showed Dewji in his home office, holding a piece of paper with the word “TANZANIA” scribbled on it.
Later in the day, the account posted several messages urging his 2.2 million followers to invest in TANZANIA, a token on Solana deployed via Pump.fun.
It was only after Dewji’s WhatsApp message clarifying the hack that it became clear the video was a deepfake.
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The Rug Pull
By the time Dewji announced the hack via WhatsApp, the damage was already done.
Despite the later revelation that the video was a deepfake and the promotional posts being deleted, investors had already bought into the scam.
Analysts noted that investors, including Dewji’s followers, purchased a staggering $1.48 million worth of TANZANIA.
According to Lookonchain, the deployer distributed 90 SOL to 20 different wallets before acquiring 793 million TANZANIA, representing about 80% of the total supply.
Once prices surged, the deployer sold all the tokens, making off with over 7,300 SOL, roughly $1.5 million at current rates, in a classic rug pull.
Who’s to Blame?
The question now arises: Who is responsible? X or the billionaire?
Following the hack and the subsequent rug pull, Dewji admitted he would need to invest more in cybersecurity.
However, the ultimate responsibility might rest with Elon Musk, who, after acquiring Twitter, aimed to eliminate bots and scams but has yet to completely solve the issue.
Despite his intentions, the platform continues to see accounts impersonating celebrities and spreading deepfakes to endorse questionable crypto tokens.
According to the FBI, over $5.6 billion was lost to crypto scams in 2023 alone. That represented a 23% jump from 2022. Most of these scammers heavily leveraged social media platforms like X to target victims.
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