Popular mixed martial arts organization the UFC had its Instagram hacked on Wednesday, as a fraudulent post promoted an unauthorized Solana meme coin that rapidly soared to an $11 million market cap.

That’s before the attackers sold their 40% supply, of course, profiting $1.4 million in the process—that’s more than Khamzat Chimaev earned at UFC 308. This pump-and-dump has left many UFC fans with substantial losses as the token’s price crashed by 97%.

“UFC fans have been waiting, and the moment is here. Get ready to own the legacy. Precision. Strength. ALL in one coin. #UFC #UnleashTheFight,” the now-deleted Instagram post read, followed by the Solana token contract address.

This post caused UFC Coin (UFC) to spike 44,367% in just 41 minutes to a market cap of $11.31 million. Numerous users in the token’s Telegram chat told Decrypt that they believed the Instagram post was legit, particularly since Donald Trump just launched his own (real) coin.

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Author: Ryan Gladwin

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