Summary
Activision Blizzard’s official Twitter account was hacked to promote a fake meme coin on Solana, falsely claiming it was an official token launch. The scheme did not net many victims, with only $16,000 worth of trades. Activision has regained control of the account and is investigating the incident. Meme coins have been popular on Solana due to low fees.
Key Points
1. The official Twitter account of gaming giant Activision Blizzard was exploited to promote an apparently unaffiliated meme coin on Solana, falsely passing it off as an official token launch.
2. The ATVI token mentioned in the scheme does exist on Solana but has no connection to Activision Blizzard or Solana Labs. It is a crypto token that can be deployed by anyone on a decentralized network.
3. The scheme did not appear to have many victims, with the token seeing minimal trades and a 99.9% price crash shortly after the promotion. Activision Blizzard regained control of their Twitter account and stated their commitment to investigating and preventing such incidents in the future.