When the Crown Prince Becomes a Meme: A Hilarious Crypto Catastrophe!

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In a most unfortunate twist of fate, the official X (formerly Twitter) account of the Saudi Law Conference fell prey to a dastardly cyberattack on a mundane Monday, a day that should have been filled with the usual bureaucratic banter.

Ah, the hackers! Those digital tricksters, who, with the finesse of a cat burglar in a tuxedo, seized the platform to peddle their fraudulent meme coins, ensnaring unsuspecting investors with a web of deceit as intricate as a spider’s.

Saudi Law Conference’s X Account Hacked for Meme Coin Scam

On this fateful day, February 17, the audacious scammers donned the guise of none other than Saudi Arabia’s illustrious Crown Prince and Prime Minister, HRH Mohammed bin Salman. They unleashed a flurry of tweets, hawking newly minted cryptocurrencies, all while falsely draping them in the regal robes of the Saudi government.

Among the tokens were the illustrious Saudi Arabia Meme coin (KSA) and the flamboyant FALCON Meme coin (FLCN). 🦅

Yet, the community, with a skepticism that could rival a cat eyeing a cucumber, remained unconvinced by this glittering charade.

“Countless scams have masqueraded under the official government banner, and this will be yet another,” quipped one user on X, their sarcasm sharper than a chef’s knife.

Others chimed in, cautioning their fellow netizens to steer clear of these dubious meme coins.

“The Crown Prince of Saudi Arabia, Mohammed bin Salman, would never dabble in memecoins, and he certainly does not have an account on X. This is a SCAM!” declared another user, their indignation palpable.

As anticipated, both tokens were rug-pulled faster than you can say “cryptocurrency crash.” According to the ever-reliable data from Dexscreener, KSA nosedived by a staggering 93.71% post-launch, while FLCN plummeted by a jaw-dropping 95.90%. To add insult to injury, the official website for FLCN was unceremoniously yanked offline.

But wait, there’s more! The hackers, in a fit of audacity, announced the launch of the “Official Saudi Arabia Meme coin” at 15:00 UTC. However, the account was miraculously recovered before this grand unveiling, and all fraudulent tweets were swiftly obliterated, like a magician’s disappearing act.

In the aftermath, the Saudi Law Conference, perhaps with a hint of embarrassment, issued an official statement via LinkedIn, a platform where one might expect to find more serious musings.

“The management of the conference announces that the official account of the Saudi Law Conference (@SaudiLawConf) has been exposed to a breach. Any content currently being posted from the account that does not reflect our views or official directions should be disregarded,” the statement read, as if trying to distance themselves from the digital debacle.

They also confirmed their tireless efforts to restore the compromised account, urging everyone to exercise caution and avoid engaging with any suspicious content, as if we needed reminding.

This hack, a mere days after Argentina’s President Javier Milei retracted his endorsement of the LIBRA meme coin—linked to a pump-and-dump scheme that drained a staggering $107 million and caused a 90% price drop—adds yet another layer of absurdity to the ongoing saga of meme coins.

Meanwhile, the trend of hacking X accounts to promote fake meme coins is not a novel phenomenon. This latest escapade merely adds to the growing list of hacks and rug pulls that have plagued the digital landscape in recent weeks. Just last week, World Liberty Financial co-founder Zach Witkoff’s account was hijacked to promote a fictitious Barron Trump meme coin.

And let us not forget the previous escapades where the accounts of former Malaysian Prime Minister Mahathir Mohamad and Brazil’s former President Jair Bolsonaro were commandeered to peddle their own fraudulent meme coins. Truly, the world of cryptocurrency is a circus, and we are all but unwilling spectators! 🎪

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2025-02-17 16:40