Dior’s Instagram Hacked to Promote Fake Solana Meme Coin

On February 19, the official Instagram account of luxury fashion brand Dior was compromised, with hackers using the platform to promote a fraudulent Solana-based meme coin called the "Dior Official Coin." The post, which included a link to Pump.fun, a popular meme coin launchpad, was shared with Dior’s 46.8 million followers, raising immediate concerns about the legitimacy of the promotion.

Many users in the comment section were quick to suspect that Dior’s account had been hacked. Others jokingly speculated that the brand’s Instagram administrator might have been in need of money. The post, written in a marketing tone, described the coin as an “exclusive luxury crypto on Pump.fun—secure, innovative, and ready for the future.” Accompanied by an image featuring the Dior logo on a black backdrop with the Solana logo looming above, the post attempted to lure unsuspecting followers into believing the token was officially backed by the fashion house.

At the same time, the hackers also compromised the Instagram account of Bleacher report to create a post that claimed that NBA star LeBron James had invested in the new Dior coin. Bleacher report account has a following of 23 million people.

The hackers tried to make the post seem like a traditional BR update post, as they shared a photo of Lebron James with the caption "LeBron James joins the crypto Space with Investment in freshly launched Dior coin."

But apparently, the second part of the post, which features a blockchain number of the coins, gives the post away.

Shortly after the unauthorized post went live, it was swiftly deleted once Dior regained control of its account. As of now, the luxury brand has yet to issue an official statement acknowledging the breach or addressing the fraudulent cryptocurrency promotion.

Despite the post’s short-lived appearance on Dior’s Instagram, the impact on the fake Dior coin was immediate. According to data from GeckoTerminal, the token was launched on Solana through Pump.fun on February 19 and surged by 138% within minutes of its release. Within a 24-hour period, it had accumulated over $1 million in trading volume, as opportunistic traders rushed to capitalize on the hype generated by the hacked post.

However, the excitement surrounding the fake meme coin quickly turned to disappointment after Dior recovered its account and deleted the post. The token’s value plunged by over 90%, leaving many holders at a significant loss. Despite a minor 2% rebound in the past hour, the Dior coin remains largely worthless, with approximately 876 traders still holding onto the asset. The token now has a liquidity of just $8,730 and a fully diluted volume of $6,430. At its peak, the fake coin boasted a market capitalization of over $280,000, but that figure has since dwindled to the low thousands.

The fraudulent token’s description positioned it as an exclusive digital asset catering to Dior enthusiasts, claiming to offer a touch of luxury to the cryptocurrency space. The message, designed to mimic high-end branding, attempted to lend credibility to the scheme by stating, “Dior Coin is here to shake up the crypto world! This exclusive token, launched on Pump.fun, brings a touch of luxury to the digital space. It’s not about shopping Dior, but about owning a piece of the future in style.”

This latest crypto scam follows a similar incident earlier this month when the X account of Solana DEX aggregator Jupiter was hijacked. Hackers used the compromised account to promote a fake meme coin called MEOW, inspired by Jupiter’s cat mascot. The attack on Dior’s Instagram highlights the growing trend of scammers targeting high-profile brands and influencers to push fraudulent cryptocurrencies, further emphasizing the need for stronger security measures in both the luxury and digital asset industries.