MEME team hacking and calling orders? The story of legendary trader GCR's account being hacked
Hacking into the GCR account only made $35,000 in the end, which is quite pathetic.Author: Deep Tide TechFlow
The crypto world is truly a dark forest.
Whether it's account hacking or on-chain phishing, it's nothing new for veteran players. This kind of "getting caught" has nothing to do with the amount of wealth; whether you are a billionaire or a hundred-dollar player, hackers treat everyone equally. As long as one is careless for a moment, hackers can take advantage of the opportunity, and the speed at which assets are transferred away is the same.
Yesterday, the legendary crypto trader GCR (@GCRClassic) had his Twitter account hacked. The hacker used GCR's Twitter account to post the opinion "strongly bullish on ORDI," and after the tweet was sent, ORDI rose 15% within minutes before quickly falling back. GCR himself seemed to be unaware until someone in his TG channel inquired, and only then did he realize his account had been compromised.
Interestingly, the famous "on-chain detective" ZachXBT revealed the entire process of this hacking incident in a detailed long tweet, sharply identifying the mastermind behind the hacking— a Memecoin team.
A Carefully Planned Hacking
After GCR's account was hacked and the call was made, on-chain detective ZachXBT announced that he would release an investigation report on the incident within the next 12-24 hours. That evening, ZachXBT published a long tweet, directly pointing out that the culprit behind the hacking was the $CAT Memecoin team.
ZachXBT pointed out that the $CAT team had previously engaged in bad practices during the project's TGE, with the team internally sniping over 60% of the token share and selling for a profit of over 5 million dollars.
Through on-chain address tracking, ZachXBT discovered that after the team profited, they quickly transferred the funds to exchanges and then withdrew the amounts to two addresses starting with 0x23bc and 0x91f33.
Subsequently, the address 0x23bc65 transferred 650,000 USDC to a new address starting with 0x5e3e and deposited it into Hyperliquid.
From UTC time May 26, 17:45 to 17:56, 0x5e3e established a long position of 2.3 million dollars in ORDI on Hyperliquid.
After making all the preparations, at UTC time May 26, 17:55, the hacker posted on @GCRClassic expressing bullish sentiment on ORDI, causing a temporary surge in ORDI.
Half the Effort for Double the Result?
Since GCR is known as a "legendary trader," the influence of his Twitter account goes without saying. Surely, a meticulously designed scheme like this would yield a significant profit, right?
However, from the hacker's tweet calling for ORDI to the final closure of the position, it took only 15 minutes, yielding a profit of 34,000 dollars.
It seems that the hacker was not satisfied with earning only 34,000 after all that effort. Over an hour later, from UTC 19:04 to UTC 19:12, they used the same address 0x5e3 to establish a long position of 1 million dollars in ETHFI on Hyperliquid.
After opening the position, the hacker again tweeted from @GCRClassic calling for ETHFI, and from UTC 19:16 to UTC 19:45, 0x5e3 closed the position, incurring a loss of 3,500 dollars. Well, the hacker not only hacked the account but also set up a position in advance, and after all that operation, the final profit is still uncertain if it covers the cost of the hacking.
Viewers in the comments couldn't help but mock: "Hacking into GCR's account only earned 35,000 dollars, how pathetic."
At the end of the investigation, ZachXBT summarized some essential points that investors should understand from this incident:
The $CAT project team merely bought an expensive Twitter account (@sol) and posted some seemingly mysterious posts, leading people to willingly invest real money for this mystery, ultimately allowing such a fraudulent team to earn millions of dollars, which is wrong.
Social media platforms should no longer provide a stage for those calling for Memecoins.
It is recommended that people study and understand the evolution from SIM card swapping/phishing scams to the current use of Memecoins for scams, as many scammers have changed their methods.
The degree of manipulation of Memecoins is comparable to or even higher than that of VC coins, so one should choose trustworthy development teams or tokens locked in smart contracts.
Finally, ZachXBT also joined in the mockery, stating that the execution of this scam was quite poor, and the scammers were clearly somewhat "low IQ."
As a person of significant influence, there is a greater demand for account risk control, as many people will genuinely invest real money based on some investment advice issued from your account.
As investors, we must demystify such influential calls and approach various investment suggestions with an objective and rational mindset, rejecting the urge to FOMO and blindly follow.
