Prominent media personality Caitlyn Jenner was allegedly socially engineered to promote a scam coin, called JENNER, which experienced a significant drop in value shortly after its launch.
The incident triggered multiple reactions from crypto proponents, with speculation that the former Olympic gold medal winner had been hacked. However, according to a disclosure by crypto community figure Roxo, Jenner’s account was not compromised but manipulated by a middleman named Sahil.
The initial tweet shared from Jenner’s X account endorsing the meme coin included a photo showing Jenner alongside former U.S. President and Republican candidate Donald Trump.
Jenner’s X handle on Sunday afternoon posted the link to the meme token with the caption, “Let’s all win together!! Send me some of your favorite memecoins here.”
Following the launch of the token, the developer sold all holdings, causing concerns among investors. X user @0xPonga reported that the token, launched on pump.fun — a Solana-based platform for creating and trading meme coins — briefly surged to $20 million in market cap. This was after concerns of it being a rug pull were addressed by Jenner’s manager Sophia.
It was further revealed that the wallet address linked to the token had been previously involved in an incident where the account belonging to adult content creator Kazumi was hacked, who had days prior promoted a different token ZUMI.
The X account at press time is still actively promoting the token. The developer responsible for the social engineering had in previous times run five successful rug pulls, promoted by influencers.
Amid the uncertainties, the token experienced an astonishing 28,000% surge in just one day. Data from DEX Screener shows that JENNER has now reached a market capitalization of $18 million, marking a significant milestone in its journey in the cryptocurrency market.
A similar incident was reported by crypto.news, involving the URF meme coin where the team executed a rug pull, vanishing with 2,400 SOL obtained during the coin’s presale.
The meme token’s team on the Solana blockchain reportedly withdrew approximately $450,000 worth of Solana (SOL), according to on-chain researcher ZachXBT.