Business
Millions Lost As Hackers Target Crypto Exchange
By Benjamin Abioye
Jupiter, a prominent Solana-based decentralized exchange (DEX) aggregator, experienced a security breach on February 6, 2025, when its official X (formerly Twitter) account was compromised.
The hacker used the account to promote fraudulent tokens, including $MEOW and $DCOIN, leading to significant financial losses for traders.
In response, Jupiter Mobile, the project’s official handle, promptly alerted users, advising them to avoid clicking on any links shared by the compromised account. They assured the community that efforts were underway to regain control.
The compromised account initially advertised a scam token with the ticker $MEOW, which some users claimed reached a market capitalization of $30 million within seconds before being deleted. Traders lost millions of dollars in a matter of minutes due to the hack.
Later, Jupiter’s team regained control of their X account.o-founder Siong Ong confirmed the restoration, stating that no customer or treasury funds were ever in danger, as all programs and funds are held in secure multisignature wallets.
We’ve successfully reallocated 1,000+ airdrops for our community members who got wallets drained, through a manual process where we manually reviewed 10,000 appeals.
— Jupiter (
Last Jupuary, we learned that some community members had their wallets hacked and would miss out on their…,
) (@JupiterExchange) April 24, 2024
The hack of the Jupiter X account underscores the vulnerabilities in Web3 security, particularly concerning non-core systems like social media accounts.t highlights the need for robust security measures, including multi-factor authentication and regular security audits, to protect users and maintain trust in decentralized platforms.
For users, it’s crucial to remain vigilant and avoid interacting with suspicious links or tokens, even if they appear to come from official accounts.lways verify information through trusted sources within the community to safeguard your assets.
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