Cryptocurrency Scammers Target UK Member of Parliament Lucy Powell’s X Account
On April 15, UK member of parliament Lucy Powell’s X account was hijacked by cryptocurrency scammers who used it to promote a scam token known as the House of Commons Coin. Powell, who serves as the Leader of the House of Commons, unknowingly became a vehicle for promoting the Solana-based cryptocurrency to her followers. The posts claimed that HOC was a community-driven digital currency and urged people to invest in it.
Following the incident, a member of Powell’s team confirmed to the BBC that her account had been compromised. Immediate action was taken to secure the account and remove the misleading posts.
Despite the attempt to generate interest in the House of Commons Coin, the token failed to gain significant traction compared to similar scams. Data from DEX Screener revealed that the token reached a peak market cap of $24,000 and recorded only 736 transactions with a total trading volume of $71,000. Currently, the market capitalization of HOC stands at approximately $3,800.
Political Figures and Crypto Endorsements
While Powell has no prior history of endorsing cryptocurrencies, several political figures have found themselves inadvertently associated with scam tokens through hacks or voluntary promotions.
Notable incidents include the hijacking of Ghana President John Dramani Mahama’s X account to promote the Solanafrica scam and the Cuban Ministry of Foreign Affairs’ account promoting the “CUBA” token. American entrepreneur and politician Vivek Ramasawamy also fell victim to a hack that led to the false promotion of a partnership between the U.S. Department of Government Efficiency and the USUAL stablecoin.
President Javier Melei of Argentina faced backlash after promoting the token LIBRA on X, resulting in a significant price surge followed by a crash. Investigations revealed that insiders, including Kelsier Ventures, may have manipulated the token launch to profit over $110 million.
These incidents highlight the ongoing challenges of fraudulent activity in the cryptocurrency space and the need for increased vigilance among public figures when endorsing or discussing digital assets.