SpaceXAI and Starlink accounts were hacked to push SCATMAN. The attacker held 10 trillion tokens before the first buyer clicked.
SCATMAN peaked at $2 million and crashed 98% in the same session. The cap table was readable on-chain before a single buyer clicked in.
CryptoVibe Desk · memecoin · rug-pull · x-hack
- →SpaceXAI and Starlink X accounts were compromised today to promote SCATMAN, which peaked at $2 million then crashed 98% after the attacker dumped.
- →The attacker pre-minted 10 trillion tokens before any promotion started, a cap table concentration that was readable on-chain before anyone bought in.
- →Watch for Lookonchain linking the SCATMAN dump wallets to prior hacked-account rug patterns, and whether X restricts token promotion after account credential changes.
- pre-mint → When someone creates and keeps a large share of a token's total supply before the public can buy, so they can sell into any buying pressure that follows.
- cap table → The breakdown of who holds how much of a token's total supply, visible on-chain to anyone who checks before buying.
- rug pull → When the biggest token holder sells all at once, crashing the price and leaving everyone else holding near-worthless coins.
SCATMAN peaked at about $2 million this morning. It's at $3,900 now, per AMBCrypto.
The playbook is simple. Hackers got into the verified SpaceXAI and Starlink X accounts and posted tweets promoting SCATMAN. One post got over 72,000 views within minutes, according to the report. Retail bought in. Then the attacker dumped 73.7 ETH, roughly $135,000, and the token dropped 98%.
The thing is, the cap table was never clean. Before a single tweet went out, the attacker had pre-minted 10 trillion SCATMAN tokens. That's the whole supply, concentrated in one wallet. On-chain the whole time.
44,925 transactions still happened. $5.7 million in trading volume, per AMBCrypto. Somehow that many people bought into a token where one wallet owned the whole supply. BeInCrypto cites Lookonchain tracing the funds across two wallets, putting proceeds at around $125,000, roughly matching the 73.7 ETH dump.
Hacking the account is just a faster way to fake the launchpad. SpaceXAI and Starlink are Elon Musk brands. That's not a random choice. If you're using a verified-account tweet as a signal that a token is real, that's the catch. The cap table is on-chain before any tweet lands. The next one will look exactly the same.
X's choice to let freshly compromised accounts keep promoting tokens is the reason this worked at all. A verified badge plus a credential rotation is a breach signal. X doesn't treat it as one, and 44,925 transactions happened because of it.
A Lookonchain post or on-chain tracker report linking the SCATMAN dump wallets to prior hacked-account rug operations, within the next 30 days.
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