#️⃣ On March 21, 2025, hackers attempted a bold cryptocurrency market manipulation by hacking the popular financial outlet Watcher.Guru's X account. They posted a fake message claiming that SWIFT was close to a deal with Ripple to use XRP for cross-border transfers with billions of tokens reserved for liquidity. The false news, posted at 11:37 AM local time, aimed to trigger a trading frenzy and drive up XRP’s price.
However, Watcher.Guru regained control of the account minutes later, removed the post, and reported the hack. Despite quick action, the fake news spread to Telegram, Discord, and Facebook, amplifying its initial impact. However, the misinformation didn’t significantly affect the market, and XRP’s price fell by 0.7% over the day.
Analysts believe the hackers aimed to create a short-term spike in XRP’s price to sell their assets at inflated prices, a common "pump and dump" tactic. The incident highlights the vulnerability of social media as news sources and their potential for manipulation. Watcher.Guru has launched an investigation and enhanced security measures. The crypto community is now discussing how far the hackers could have gone if their plan succeeded.
