The account of Canadian rapper Drake on the social media platform X was compromised over the weekend and exploited to promote a fraudulent token, resulting in millions of dollars in losses for his followers.
The token, named ANITA, was launched on the Solana network. Its name references Drake’s cartoon alter ego, Anita Max Wynn, a play on the phrase “I need a max win,” alluding to the artist’s well-known passion for gambling. Posts promoting the token reached Drake’s 39 million followers, driving trading volumes to exceed $5 million in the brief period before the scam was discovered. Once users realized the token was fraudulent, they ceased their purchases.
The ANITA token’s account on X was subsequently suspended, and the deceptive posts were removed from Drake’s page. However, by that time, significant financial damage had already been inflicted on investors.
The scammers capitalized on Drake’s fame and reputation as a gambler to lend credibility to their scheme. Their posts falsely claimed the token was associated with Stake, a legitimate gambling platform and one of Drake’s official partners. This claim likely confused followers, especially since a pinned post on Drake’s page genuinely promoted Stake.
Further adding to the illusion of legitimacy was Drake’s upcoming “Anita Max Wynn” tour in Australia and New Zealand next year, leading some fans to believe the token was linked to this event.
Analysts have observed a growing trend of celebrity accounts being hacked to promote fraudulent cryptocurrencies. In recent months, similar schemes have targeted accounts belonging to high-profile figures such as Cardi B, Doja Cat, Metallica, and others.
A previous investigation by cryptocurrency expert ZachXBT uncovered links between several such attacks and a former Australian esports player known as Serpent. Victims of these hacks have included the accounts of Usher, Wiz Khalifa, and actor Dean Norris.
The current cryptocurrency market frenzy creates an ideal environment for scammers, who exploit the inexperience of new investors, coercing them into impulsive and poorly-informed decisions.
