An X account impersonating Hong Kong’s Chief Executive, John Lee Ka-chiu, launched a fake national cryptocurrency on Solana’s token launchpad Pump.fun.
The account promoted the token to its followers and interacted with other accounts, allegedly thanking Barstool Sports founder Dave Portnoy for helping with the launch.
The Hong Kong government denied any links to the account and clarified that they were not launching a cryptocurrency.
Concerns were raised about the security of X's account verification, as it had been hacked before for promoting crypto scams.