The crooks launched a false piece under the name of the crown prince of Saudi Arabia Mohammed Bin Salman.
The false medal of Saudi Arabia, called “official” from Saudi -Mecoin (KSA) Arabia, was announcement February 17. The announcement came from an X account named “Saudiilawconf”, which was falsely presented as linked to the Crown Prince. The real owners of the account, the Saudi law conference later confirmed that their account X had been hacked.
Schools frequently use the identities of public characters to promote fraudulent cryptography projects, abusing public confidence in well -known individuals. Elon Musk And Donald Trump have already been target In similar scams, where fraudsters have favored false Crypto gifts.
While usurping the identity of famous individuals, these pieces tend to present large red flags that inexperienced investors may not notice. The False Saudi Arabia even displayed several red flags. On the one hand, the announcement lacked details on the Tokenomics or the planned use of the play and lacked official statements of the government supporting the project.
Another less obvious red flag was that the token contract had been deployed on the channel a week before the announcement. The launch took place on February 10 via even Pumple.Fun Pumplefum, based in Solana. The fraudulent token failed to gain ground, its market capitalization reaching only $ 7,489, according to Pump.fun data.