Solana
NBA Instagram Account Compromised to Promote Solana-Based Memecoin Scam
The official Instagram account of the National Basketball Association was briefly compromised to promote a fraudulent token before the unauthorized post was deleted.
The official Instagram account of the National Basketball Association was recently compromised to promote a Solana-based memecoin dubbed $NBA Coin. The post shared a cryptocurrency contract address and urged followers to purchase the token and join its community, before comments were disabled and the post was subsequently taken down.
According to the report, the promoted token was generated on Pump.fun and held a market capitalization of around $3,500 on October 14. The unauthorized endorsement on a high-profile platform raised concerns that fans could incur financial losses, though the NBA had not officially addressed the suspected breach at the time of reporting.
This incident follows a similar occurrence in March 2025, when hackers compromised the NBA's official X account and regional channels to market the same token name. The piece also notes that broader memecoin fraud has persisted in 2026, citing a September report by Bitquery where 56 token launches generated $15.5 million for a single operation, with most tokens losing over 90% of their peak value.
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