Overview
- Compromised SpaceXAI and Starlink X profiles were used to promote a fake memecoin called SCATMAN, and the attacker converted the token sales to roughly $125,000 in Ethereum on Monday.
- Lookonchain’s on-chain analysis shows the attacker minted 10 trillion SCATMAN tokens and executed two sales that moved about 59 ETH and 14.7 ETH into two public wallets, which the firm published.
- The fraudulent reposts were removed from both accounts shortly after detection and at publication neither SpaceX nor Starlink had issued a public statement.
- The token briefly rallied to nearly $2 million in market value before liquidity evaporated and the price crashed about 98%, illustrating how hijacked trusted profiles create instant buying pressure that attackers sell into.
- This incident follows a recurring 2025–2026 playbook where hijacked high-profile accounts enable fast rug pulls and it shows that blockchain tracing can name wallets but cannot identify operators or recover stolen funds without platform cooperation.