Hackers Use Saudi Crown Prince’s Identity to Market Fake Memecoins

Hackers Exploit Saudi Law Conference’s X Account to Push Fake Memecoins

Scammers took control of the Saudi Law Conference’s official X account, falsely posing as Crown Prince Mohammed bin Salman to promote fraudulent memecoins.

The attackers posted a series of misleading messages, claiming endorsement from the crown prince for an “Official Saudi Arabia Memecoin” and a “FALCON Memecoin.” These posts, which included contract addresses to give the tokens an air of legitimacy, have since been removed.

In response, the Saudi Law Conference issued a statement on LinkedIn confirming the breach, emphasizing that the unauthorized posts did not represent its official views.

“We are urgently working to recover our account and completely disavow any misleading content shared during this period,” the conference wrote. “We apologize for any confusion and strongly advise our followers to avoid interacting with suspicious content.”

The incident comes amid growing concerns about fraudulent crypto promotions, following recent controversy involving Argentine President Javier Milei, who deleted a post promoting a now-collapsed memecoin called Libra.