Adam Weitsman, known for his investments in NFTs and his success in the scrap-metal industry, recently faced a cyberattack on his X account, previously known as Twitter. According to NS3.AI, the hack was used to advertise a fake forex trading course and a fraudulent memecoin named Clawed Ape Yacht Club (CAYC). The memecoin saw a rapid increase and subsequent decrease in value following the incident. Weitsman's investments in NFTs, particularly in Yuga Labs’ Otherdeeds, have suffered a substantial decline, with the market cap dropping by 71% since the announcement of his initial deal.