Former Malaysian Prime Minister Mahathir Mohamad's official social media account was recently hacked by Anonymous hackers to promote a fake meme coin. This incident is part of a growing trend of meme coin scams with a political twist, following a similar attack on the former President of Brazil last month. It is suspected that the hackers behind these scams may have ties to the notorious Russian Evil Corp.

The fake meme coin, named MALAYSIA, was falsely endorsed on Mahathir Mohamad's social media account, claiming to be Malaysia's official cryptocurrency live on Solana. The post was swiftly taken down, but not before the hackers managed to pull off a rug pull scam, making away with a significant sum of $1.7 million within just an hour.

This MALAYSIA scam is just one example of a larger trend of fraudulent political meme coins gaining traction in the crypto space. Following the success of scams like the TRUMP token, scammers are increasingly using political figures to deceive investors.

Aside from political figures, scammers are also targeting unsuspecting users on platforms like Coinbase and Telegram, resulting in significant financial losses. With meme coins influencing investment trends and community interest, fake tokens are likely to continue luring in speculative investments despite warnings from industry leaders.

The rise of meme coins and the growing prevalence of fake token scams indicate that vigilance and caution are crucial in navigating the cryptocurrency space to avoid falling victim to fraudulent schemes.