The X account of rapper Wiz Khalifa was reportedly hacked on November 3, misleading his 35.7 million followers with a scam involving a bogus cryptocurrency. The hackers posted that Khalifa was collaborating with his team to launch a new token, $WIZ, aimed at his crypto fanbase. This fake announcement spurred a rapid rise in the token’s market cap, hitting a peak of $3.4 million just 15 minutes after its launch.

However, the token’s valuation plummeted just as quickly. Within an hour, $WIZ’s market cap had plunged to under $28,000 as early investors began unloading their holdings. Currently, the token is valued at around $8,400, according to data from DEX Screener.

Blockchain analysis from Solscan reveals that two primary wallets purchased a total of 155 million $WIZ tokens for $19,100 and cashed out, reaping profits of approximately $160,000. Blockchain investigator ZachXBT confirmed that the hacker behind Khalifa’s account had previously compromised the X account of Andy Ayrey, the creator of Truth Terminal, on October 29.

ZachXBT warned his followers on November 3 not to invest in the $WIZ token, linking it to the same hacker who exploited Ayrey’s account. Since then, the promotional posts have been deleted, but it’s unclear if Khalifa has fully regained control of his account.

This incident follows Ayrey’s own hacking episode, where attackers used his X account to promote fraudulent memecoins, reportedly securing profits totaling $1.5 million. These attacks highlight the risks of high-profile social media accounts being exploited to lure followers into scam investments.