Pudgy Penguins CEO's Instagram Account Hacked to Promote Pump Fun Token

According to ChainCatcher, citing a report from Protos, the Instagram account of Pudgy Penguins CEO Luca Netz was hacked and used to promote a base token called IGLOO by PumpFun . The incident was exposed on Wednesday by NFT enthusiast “JBond” on the X platform and was confirmed by PudgyPenguins' Head of Ecosystem Growth, “Becca”.

JBond pointed out that LucaNetz's account may have been compromised, as he posted about a new token called IGLOO, which is linked to the IglooInc treasury and was created via a Pump Fun link. JBond emphasized that this does not align with the usual practices of the Pudgy Penguins team and advised everyone to remain cautious until an official statement is released. Despite the suspicious nature of the post, as of press time, the IGLOO token's market cap was close to $16,000, with a 24-hour trading volume nearing $72,000.