--- title: "ZachXBT reveals GCR account hack tied to Solana meme coin team" url: https://diffcoin.com/zachxbt-reveals-gcr-account-hack-tied-to-solana-meme-coin-team/ description: "Investigation links GCR hack to the CAT meme coin team's trades on Hyperliquid, uncovering potential market manipulation." published: 2024-05-27 updated: 2024-05-27 author: "Mila" site: "Diffcoin" --- # ZachXBT reveals GCR account hack tied to Solana meme coin team Share this article ![Follow Crypto Briefing on Google News](https://static.cryptobriefing.com/wp-content/uploads/2024/04/05153217/follow-us-on-google-news.png) The May 26 X account hack of the notorious trader known as GCR might be tied to the team behind the meme coin CAT deployed on Solana, shared the on-chain sleuth ZachXBT this Monday. According to ZachXBT, minutes before the hack, an address tied to CAT’s team opened long positions in the tokens ORDI and ETHFI using $2.3 million and $1 million, respectively. The funds were obtained through an alleged token launch manipulation, where CAT’s team was able to snipe their token on May 24 and hold 63% of the supply. The amount was then sold for nearly $5 million, and the profit was transferred to multiple wallets, according to the on-chain sleuth. > 2/ The [@sol](https://twitter.com/sol?ref_src=twsrc%5Etfw) team sniped their own launch to control 63% of the supply selling $5M+ of [$CAT](https://twitter.com/search?q=%24CAT&src=ctag&ref_src=twsrc%5Etfw) before transferring the profits to multiple wallets. [pic.twitter.com/94mvKqExec](https://t.co/94mvKqExec) > > — ZachXBT (@zachxbt) [May 27, 2024](https://twitter.com/zachxbt/status/1795082836929544633?ref_src=twsrc%5Etfw) The user identified as Lookonchain also detected this movement through on-chain analysis and attributed it to a likely insider from the CAT’s team. One of the wallets moved 4,800 SOL to the crypto exchange KuCoin while sending the same SOL amount with $1,4 million in USD Coin (USDC) to MEXC. “Using a timing analysis I found withdrawals from the two exchanges on Ethereum & Arbitrum shortly after the Solana deposits in similar amounts,” added ZachXBT. Therefore, the hackers opened their long position on ORDI and used GCR’s account to post about the token, pumping its price and profiting nearly $34,000. Before the hackers could make another trade, GCR informed on X that his account was compromised and no information from there should be trusted. Nevertheless, the hackers opened a ETHFI long position on Hyperliquid a few hours later, losing $3,500 in the process. This journey ended in a little over $30,000 of net profits for the hackers. Yet, ZachXBT explained to one of his followers that positions on centralized exchanges could be opened as well, elevating the profit for the team. He also suggested that the team behind CAT could be previous perpetrators of SIM Swap scams, consisting of hackers gaining access to SIM chips from victims to breach bank accounts and crypto wallets. “Meme coins are just as manipulated if not more than VC coins (just trust me bro dev vs smart contract locked tokens),” concluded the on-chain sleuth. Share this article ![Follow Crypto Briefing on Google News](https://static.cryptobriefing.com/wp-content/uploads/2024/04/05153217/follow-us-on-google-news.png) The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. [Source link](https://cryptobriefing.com/gcr-solana-hack-investigation/)