Hackers took control of the Saudi Law Conference’s official X account, using it to impersonate Saudi Crown Prince Mohammed bin Salman and promote fake cryptocurrencies. The cybercriminals falsely advertised an “Official Saudi Arabia Memecoin” and a “FALCON Memecoin,” directing users to contract addresses linked to these fraudulent tokens.
Conference Officials Confirm Account Breach
The Saudi Law Conference, a major legal event in the country, confirmed the breach on LinkedIn, stating that the unauthorized posts did not reflect their official views. They assured followers they were working urgently to regain access to the account and warned users against engaging with suspicious content.
In a public statement, the conference disclaimed all responsibility for posts made during the hack and apologized for any inconvenience caused. They urged users to remain cautious until the account was fully restored.
Growing Concerns Over Crypto Scams
The incident highlights the growing misuse of high-profile identities to deceive investors in the crypto space. Fraudulent schemes involving fake endorsements have become increasingly common as scammers exploit social media platforms to target unsuspecting users.
This case follows a similar controversy involving Argentine President Javier Milei, who recently deleted a post promoting a cryptocurrency called Libra, which later collapsed in value.
As security threats continue to rise, users are advised to verify information from official sources and be cautious when engaging with crypto-related promotions on social media.