SpaceX, Starlink X Accounts Hijacked in Token Scam

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Attackers have compromised the X accounts associated with SpaceX and Starlink to promote a fraudulent cryptocurrency token called SCATMAN, according to BeInCrypto. The scheme resulted in approximately $125,000 in Ethereum being stolen from victims, marking another instance of high-profile account takeovers weaponized to distribute scam tokens.

The compromised accounts were used to broadcast promotional messages for the token, likely convincing followers of the legitimate companies to purchase it. After collecting funds, the perpetrators executed a rug pull—a form of fraud where token creators abruptly withdraw liquidity and disappear, leaving investors with worthless holdings.

How the scheme unfolded

On-chain analysis firm Lookonchain tracked the stolen funds across two separate wallets, tracing the flow of Ethereum obtained through the scam. The incident follows an established pattern in which attackers target verified social media accounts belonging to high-profile companies or individuals, leveraging their credibility to attract potential victims.

The use of recognizable brands like SpaceX and Starlink amplifies the scheme's effectiveness, as followers are more likely to trust investment opportunities promoted from official channels. Once the token gained enough traction and accumulated sufficient capital, the fraudsters withdrew the liquidity, rendering the token valueless.

Part of a broader pattern

This attack is not isolated. According to BeInCrypto's reporting, a succession of comparable account takeovers have recently targeted prominent figures and organizations, with criminals using the compromised platforms to push fraudulent cryptocurrency projects. These incidents underscore the persistent vulnerability of social media accounts, even those belonging to well-resourced companies with substantial security protocols.

The SCATMAN scam demonstrates how attackers continue to exploit the trust associated with verified accounts and the relative ease with which cryptocurrency fraud can be executed and concealed across blockchain networks.

For the full details of this incident and BeInCrypto's analysis of the attack, visit the original report at BeInCrypto.

*Source: [BeInCrypto](https://beincrypto.com/spacex-starlink-scatman-rug-pull-hack/). Summary by Quantority.*