tl;dr
Hackers compromised the Twitter account of Vivek Ramaswamy, co-lead of the Department of Government Efficiency, leading to false claims of a strategic partnership with USUAL stablecoin. The misinformation caused a market frenzy, boosting the cryptocurrency's value. The incident drew attention to the...
Hackers compromised the Twitter account of Vivek Ramaswamy, co-lead of the Department of Government Efficiency, leading to false claims of a strategic partnership with USUAL stablecoin. The misinformation caused a market frenzy, boosting the cryptocurrency's value. The incident drew attention to the D.O.G.E. initiative, raising speculation about its connection to digital currencies. The article also includes sponsored promotions for Binance and Bybit.Reports have emerged that hackers compromised the X account of the newly-established Department of Government Efficiency (D.O.G.E.) co-lead Vivek Ramaswamy. The attack led to a whirlwind of misinformation and market frenzy surrounding the four-month-old USUAL stablecoin project.It started with a now-deleted post initially thought to be from Ramaswamy, announcing a “strategic partnership” with USUAL that would leverage cryptocurrency to help reduce the federal government’s fiscal deficit. However, more than 40,000 views later, the tweet was removed, with prominent fund manager James Fishback claiming that he had spoken with Ramaswamy, who informed him that he had been hacked. Nonetheless, the false announcement seemed to have achieved its purpose, with its namedropping of USUAL causing the project’s governance token to spike dramatically. Data from CoinGecko shows that the cryptocurrency surged to an all-time high (ATH) of $1.61 soon after the fake Vivek post went live, pushing its market cap to nearly $745 million.The incident raised speculation within the crypto community about potential involvement of D.O.G.E. with digital currencies, reflecting on Ramaswamy's association with Musk. At the time of going to press, Ramaswamy had not made any statement regarding the alleged breach.SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details ). LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!Tags: Hacking, Twitter, Vivek RamaswamyABOUT THE AUTHORWayne is a dynamic part-time trader with an impressive eye for detail. His passion for understanding financial systems has led to an intriguing interest in blockchain technology, and he enjoys exploring and writing about cryptocurrencies. Possessing a keen intellect and diligent work ethic, he stays up-to-date on the latest industry trends, regularly sharing his insights in articles and professional presentations.JOIN OUR COMMUNITYFacebook X YouTube TelegramEDITORIALSWhat is Truth Terminal and the Rise of AI Agents: In-Depth Look at GOAT And BeyondReal World Assets: an Emerging Reality in an Inevitable FutureThe Future of NFTs: A Transformation, Not a TombstoneTrump’s Win Is Big for Crypto, But Let’s Keep Expectations in Check (Op-Ed)What Is Sui Network (SUI): The Ultimate Guide in 2024What Is The Open Network (TON): All You Need to Know in 2024Quantum Leap: Quantum and AI Will Make Hackers More Powerful Than Ever (Op-Ed)JOIN OUR NEWSLETTERBecome a CryptoPotato VIP One Weekly Email Can Change Your Crypto Life. Sign-up FREE to receive our extended weekly market update and coin analysis report We NEVER send spam. You can unsubscribe at any time. Invalid email address Thanks for subscribing!Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer © Copyright CryptoPotato 2016 - 2021 Scroll to top One Daily Email Can Change Your Crypto Life. Sign-up FREE to receive our extended daily market update and coin analysis report We never send SPAM. You can unsubscribe at any moment Invalid email address Thanks for subscribing!