Meteora says co-founder’s X account hacked after ‘parasitic’ memecoin post

The X account of Meteora co-founder Ben Chow was reported to have been hacked after it posted a tweet reigniting the controversy around the launch of the Libra (LIBRA), Melania Meme (MELANIA) and Official Trump (TRUMP) memecoin tokens that ultimately led to his resignation.

On March 11, Chow’s X account posted an “official statement” about his departure from Meteora. The post called out DefiTuna founders Vlad Pozniakov and Dhirk, claiming the duo’s sole intention was to extract the maximum funds possible from various memecoin token launches, including MELANIA, Mates (MATES) and a Raydium launch.

“As a long time Solana builder, the reason I stepped down is because I am far too trusting for how parasitic the memecoin space is.”

The controversial memecoin plot thickens for Meteora 

However, Meteora’s official X account flagged the post as fraudulent, claiming that Chow’s X account was compromised and urged users to refrain from clicking on any links.

Chow did not respond to Cointelegraph’s request for comment. The fraudulent tweet has since been deleted after the account was recovered by Meteora.

Chow’s message contained alleged screenshots of WhatsApp conversations between Kelsier Ventures CEO Hayden Davis, Kelsier Ventures’ chief operating officer Gideon Davis, and Pozniakov discussing the MATES token, where one was quoted saying: “Yeah fellas tbh we are trying to max extract on this one.”

The legitimacy of the conversations could not be verified.

Meteora co-founder Zen, who has since taken up the role of CEO, said that Meteora’s X account was also compromised along with Chow’s:

“It’s true that someone gained access momentarily to our Meteora X account. We’ve since reset the account and now verifying.”

Investors were advised against clicking on any links shared from the accounts to avert financial losses.

Related: Milei’s ‘Libragate’ scandal, explained: What’s behind the controversy?

Implications of memecoin speculation in Argentine politics

Argentine President Javier Milei is facing calls for impeachment after endorsing a rug-pull Solana-native LIBRA token. Milei’s endorsement caused the token’s value to surge from near zero to $5, briefly reaching a $4 billion market capitalization.

However, a massive sell-off event followed that caused LIBRA’s value to drop rapidly, wiping out millions in investor funds in the process.

Milei dismissed the rug pull allegations, claiming that he regularly promotes business projects as part of his free-market philosophy. His endorsement of the KIP Protocol, the developers behind LIBRA, was a part of the broader policy.

Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express