DEX Jupiter users on the Solana network reported a loss of funds after the project’s X account was hacked

What’s new? The X-account of the decentralized exchange (DEX) aggregator Jupiter on the Solana network was hacked to promote scam tokens. In a series of already deleted posts, the account promoted a fraudulent meme coin with the ticker MEOW, referring to the pseudonym of Jupiter’s co-founder. Representatives of accounts associated with the project urged users not to click on the links, and warnings were published by other representatives of the crypto community.

Source: X.com

What else is known? The hacker posted several posts about the scam token MEOW, but after a while he deleted them and started promoting another coin with the ticker DCOIN, referring to Dogecoin, the largest meme token on the crypto market, which has existed for more than 10 years. The hacker also managed to launch a stream on X Spaces, which was joined by over 3300 users.

Under posts on the X accounts of Jupiter Mobile, JupiterDAO, and Jupiter Uplink, some users reported that they lost their JUP native tokens and Solana (SOL) blockchain coins in this fraudulent scheme and demanded compensation.

Source: X.com

Among others, an anonymous analyst at the venture capital crypto firm GM Capital under the nickname Beanie commented on the situation:

“Traders lost millions instantly on this Jupiter account hack. Literally in a matter of minutes. It’s amazing how we trust these protocols with billions of dollars in liquidity but they’re not competent enough to protect their social media. Quite the paradox we see too often here.”

Source: X.com

Later, the official Jupiter account posted a message that the team had restored access. The developers clarified that the project’s other communication channels or treasury funds were not affected by the attack.

Source: X.com

Jupiter co-founder under the nickname Meow promised to publish details of the incident following an investigation.

Source: X.com

Users again expressed dissatisfaction and demanded the return of the lost funds. Some note that they lost all their SOL, trusting the information from the official account of the project.

Jupiter is one of the leading DeFi platforms in the crypto space. It has conducted more than 1,3 billion transactions worth $2,24 trillion over time, according to Dune.

Experts surveyed by CoinDesk said that Solana innovation is at risk due to the growing popularity of the Jupiter protocol

Entrepreneurs noted the project’s tendency to monopolize

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At the end of January, the Jupiter team held its first in-person Catstanbul 2025 conference where it made a number of important announcements. It announced the launch of the Jupnet omnichain network, the acquisition of meme token launchpad Moonshot, and portfolio tracker SonarWatch, and unveiled a new lending program with Jupiter Liquidity Providers (JLP) tokens and Circle’s USDC stablecoins.

In addition to this, 50% of fee revenue will start going towards buybacks of JUP native tokens to maintain the value of the asset. At the same time, developers burned $3,6 billion worth of JUP, which contributed to the exchange rate hike.

Amid the news of the hack, the asset lost 4,3% overnight and was trading at $0,884 at the time of writing. JUP ranks 55th in the overall ranking of cryptocurrencies by market capitalization, with a value of $2,34 billion. Since the beginning of the year, the asset has risen in price by 8,2%.