The token rose more than 80% in the first hour after the tweet was posted.
A Solana-based meme coin named after former US President Donald Trump has seen a significant surge in value following a tweet from the Pirate Wires account, an independent media outlet.
Per conversations, Trump is launching an official token — $DJT on Solana. Barron spearheading.
— Pirate Wires (@PirateWires) June 17, 2024
The legitimacy of the tweet is being questioned by the crypto community, with many suggesting that the Pirate Wires account may have been hacked.
Shortly after the tweet, the account of Pirate Wires founder, Michael Solana, posted a contract address for the $DJT token, further fueling speculation that the founder’s account had been compromised.
contract address, posting for visibility: HRw8mqK8N3ASKFKJGMJpy4FodwR3GKvCFKPDQNqUNuEP
— Mike Solana (@micsolana) June 17, 2024
The swift posting of the contract address has led many in the community to believe that both the original tweet and the subsequent contract address were posted by hackers.
I’m guessing this is a hack, given Mike (PW founder) replied asap with a CA https://t.co/cqnJyo2APu
— Pool 2. Paulie (@Pool2Paulie) June 17, 2024
As of now, there has been no official statement from either the Trump family regarding the meme coin or the alleged hack of the Pirate Wires account.