Saudi Law Conference's X account, formerly known as Twitter, fell victim to a cyberattack orchestrated by hackers looking to push meme coins into the limelight on Monday.

Exploiting the platform, the hackers engaged in deceptive tactics to lure potential investors by spreading false information about newly launched cryptocurrencies.

Under the guise of Saudi Arabia's Crown Prince and Prime Minister, HRH Mohammed bin Salman, scammers took control of the account and promoted cryptocurrencies like the Saudi Arabia Meme coin (KSA) and the FALCON Meme coin (FLCN).

Despite their efforts, the community remained wary of the dubious project, with one user cautioning, "There have been numerous scams under official government names, and this appears to be another one."

Others followed suit, advising against engaging with the meme coins, stating, "This is a SCAM! Crown Prince of Saudi Arabia will never associate with a memecoin."

Shortly after their launch, the tokens experienced significant losses, with KSA dropping by 93.71% and FLCN by 95.90%. FLCN's official website was even taken offline.

In a bid to further their agenda, the hackers attempted to introduce the "Official Saudi Arabia Meme coin," but the compromised account was reclaimed before the scheduled launch, and all fraudulent tweets were swiftly removed.

The Saudi Law Conference addressed the breach via an official statement on LinkedIn, cautioning against any content that deviates from their official stance and reiterating their commitment to restoring the compromised account.

As the dust settles, the repercussions of this cyberattack on the Saudi Law Conference's X account join a string of recent hacking incidents targeting prominent figures and organizations for the promotion of fraudulent meme coins, underscoring the growing prevalence of such scams in the digital landscape.