Doja Cat, a popular rapper, has been targeted by hackers in a social media scam that resulted in significant financial losses for unsuspecting investors. According to reports, Doja Cat’s X account was compromised and used to promote a fake cryptocurrency named “Doja Cat (DOJA)”.

The hackers leveraged Doja Cat’s large following to spread the scam. A since-deleted post on the platform allegedly included an image of Doja Cat in costume, along with a directive to “buy $DOJA or else” and the address for the fraudulent token. The post reportedly also disparaged fellow rapper Iggy Azalea, who recently launched her own cryptocurrency.

The fraudulent token briefly achieved a market capitalization of $1.65 million before plummeting to a mere $16,820, causing investors to lose over $1.63 million. This incident highlights the dangers of investing in unregulated cryptocurrencies and the importance of verifying information before making any financial decisions, especially those influenced by social media.

Doja Cat has reportedly regained control of her account and has not commented on the incident. Law enforcement is investigating the hacking, and it remains unclear if the perpetrators will be apprehended. This event serves as a cautionary tale for social media users to be wary of unsolicited investment opportunities, particularly those promoted by celebrities or influencers.