Scammers have created a fake X (formerly Twitter) account impersonating NBA legend Michael Jordan to promote a fraudulent cryptocurrency token, $JORDAN.
The account, using the deceptive handle @mj_official23, falsely claims to be the official profile of the basketball icon.
Promoting suspicious token contracts, the scammers aim to exploit Jordan’s global reputation and influence to lure unsuspecting investors.
The fraudulent campaign has raised concerns within the cryptocurrency community about the increasing prevalence of celebrity impersonation scams targeting inexperienced investors.
Community Investigation Exposes Tactics Behind the Scam
The suspicious activity was uncovered by vigilant community members who traced the origins of the @mj_official23 account.
Investigators revealed that the account was originally registered under the handle @samthingsoweto and was renamed the same day it began promoting the fake $JORDAN token.
The scammers likely leveraged this rebranding tactic to create a façade of legitimacy and manipulate users into trusting the account.
Combined with Michael Jordan’s international fame, this strategy has drawn significant attention from both crypto enthusiasts and basketball fans, exposing them to potential financial harm through dubious token contracts.
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Public Warnings to Prevent Victimization
The public and crypto investors are being urged to exercise caution when encountering promotional content on social media, particularly involving high-profile individuals.
Experts recommend verifying the authenticity of social media accounts before engaging in any investment-related activities.
Fraudulent schemes like this are increasingly common in the cryptocurrency space, and their high-profile nature makes them particularly dangerous.
Users are encouraged to report suspicious accounts like @mj_official23 and rely on official and verified sources for cryptocurrency investments to avoid falling victim to such scams.
Broader Implications for Crypto and Social Media Safety
This incident is one of many recent cases highlighting the vulnerabilities of social media platforms as a tool for crypto-related scams.
A similar case involved Barron Trump’s X account, which was hacked to promote the $BARRON memecoin before being removed, sparking questions about the token’s legitimacy.
Additionally, hackers compromised Nasdaq’s X account to promote the fraudulent memecoin STONKS, which briefly surged to a value of $80M before collapsing.Â
These incidents underscore the urgent need for stricter social media security measures to prevent impersonation and scams, as well as the necessity for crypto investors to remain vigilant in the increasingly volatile digital asset space.
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