CoinSwitch officially announced that its X account was hacked to promote a scam token, SWITCH, on the Solana blockchain. The hackers falsely claimed it was CoinSwitch’s native token, with trading set to start at 8 AM UTC. CEO Ashish Singhal confirmed the breach, assuring users that the platform remains secure and funds are safe. The CoinSwitch team has regained account control, deleted the fraudulent post, and is working with X to address the issue. Singhal urged users to ignore messages about $SWITCH, emphasizing no official link to any such memecoin.
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