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Cryptocurrency Critic Krugman Falls Victim to Token-Promoting Hackers

Cryptocurrency Critic Krugman Falls Victim to Token-Promoting Hackers

HappyCoinNewsHappyCoinNews2025/02/20 21:11
By:HappyCoinNews

Attackers have hacked the account of cryptocurrency-hating American economist Paul Krugman to advertise yet another meme token.

Paul Krugman has become the latest micro-celebrity to have his account hacked to promote a useless memecoin, сообщил investor and journalist Dave Troy.

Criminals who gained unauthorized access to Krugman's account on the X social network, which is banned in Russia, published a message about the release on the network in his name Solana (SOL) of a new cryptocurrency called The New York Times Coin (NYTC). They also listed the token's smart contract address and attached a link to an article about the digital asset, allegedly created by employees of the famous publication The New York Times.

By advertising the coin through Paul's account, the hackers hoped to drive its price up and make money by selling the tokens when their price peaked.

Cryptocurrency Critic Krugman Falls Victim to Token-Promoting Hackers image 0

Cryptocurrency ad posted by attackers through Krugman's account

Krugman has long been an opponent of Bitcoin and other digital assets, deeming them useless. He believes that the blockchain technology that underlies cryptocurrencies is inferior to other cheaper and simpler technologies designed to solve financial problems.

He believes that digital assets represent not progress but regression of the payment system because they are similar to gold, which was the main means of payment hundreds of years ago before the advent of reliable fiat currencies.

Bitcoin and its relatives [other cryptocurrencies] do not play a significant role in the economy, so for us, who are not involved in the crypto game, it does not matter how their price changes,” Paul said.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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