Dota 2 YouTube Hack Promotes Fraudulent Meme Coin

The official Dota 2 YouTube channel was compromised on Wednesday, promoting a fraudulent Solana-based token “dota2coin” via livestream, reportedly without compromising user data.

This highlights the vulnerability of social media platforms and the risks in the cryptocurrency market, with the token’s market cap plummeting to approximately $5,500.

Breach Exposes Market Risks in Token Promotions

The Dota 2 YouTube channel, managed by Valve Corporation, was temporarily compromised, with the attacker live-streaming a promotion for the token, dota2coin. The livestream falsely touted an official meme coin related to Dota 2. The meme coin’s market capitalization dropped by around 21% from its launch, being valued at roughly $5,500 as of press time. On-chain data shows that the token was created shortly after the attack, exhibiting extreme wallet concentration. Over 98% of dota2coin’s supply resides within one wallet, suggesting possible foul play. Community members on the r/DotA2 subreddit quickly identified and warned against this scam. Users shared screenshots of the fraudulent livestream, alerting others to potential risks.

Did you know?

Did you know? The swift reaction by the r/DotA2 subreddit contrasts with previous YouTube hacks, where reactions were typically slower, causing greater financial losses.

Solana Market Reactions Amid Dota 2 Scam

Did you know? The swift reaction by the r/DotA2 subreddit contrasts with previous YouTube hacks, where reactions were typically slower, causing greater financial losses.

According to CoinMarketCap, Solana (SOL) has a current price of $194.56. Its market cap stands at $106,365,933,626 with a market dominance of 2.83%. Over the past 24 hours, the trading volume reached $9,658,092,012, marking a decrease of 27.37%. Price changes show declines over various periods, with a 24-hour drop of 4.13% and a 7-day reduction of 14.41%. However, it recorded a 90-day growth of 8.13%.

Coincu’s research team notes that scams similar to muni2coin often spotlight the necessity for enhanced digital security measures, alongside the importance of vigilance by community and industry players. The concentrated token holding pattern is a classic indication of a potential rug pull, alerting investors to possible financial vulnerabilities.