In an important development yesterday, the Twitter account of GCR, one of the most well-known analysts in the cryptocurrency world, was hacked.
Fake tweets were sent from the hacked account, claiming that GCR had invested in many memecoins and altcoins.
Then, cryptocurrency detective ZachXBT delved into the details of this hacking incident and, interestingly, found connections between the developers of a newly launched memecoin and the hackers.
According to ZachXBT, the developers of the memecoin called CAT may be involved in the hacking incident that occurred last night. According to the data, a wallet belonging to the developers of this memecoin opened a $2.3 million ORDI and $1 million ETHFI long position last night.
Going back to the beginning, CAT developers purchased 63% of CAT tokens during the launch of their own token. He then sold them for $5 million and transferred the profits to other wallets.
One of these wallets transferred $2.5 million worth of Solana coins obtained from sold CAT tokens to Kucoin and MEXC exchanges.
In its analysis, ZachXBT found that there were withdrawals from the two exchanges, Ethereum and Arbitrum, in amounts similar to the amounts deposited by the wallets in question. Then, on May 25, one of the wallets transferred $ 650 thousand USDC stablecoin to the platform called Hyperliquid to be used in futures transactions.
The wallet in question opened an ORDI long position worth $2.3 million about 10 minutes before the hack. ORDI price jumped after the hacking incident. He closed his position one minute after the wallet hack and made a profit of $34 thousand.
Then, the wallet in question opened a $1 million ETHFI long position on the same platform. 8 minutes after the position was opened, a post was made for ETHFI from the hacked address. However, the hacker closed this position with a loss of $ 3,500.
The CAT team purchased the username @sol, which is very valuable on Twitter, and started sharing from this address.
*This is not investment advice.
