UK Lawmaker’s Hacked Account Fuels Scam Coin Frenzy

UK Member of Parliament Lucy Powell’s X account was hacked on April 15 to promote a scam cryptocurrency, the House of Commons Coin (HOC). The fraudulent posts, later removed after quick damage control by Powell’s staff, led to a brief surge in interest for HOC, reaching a peak market cap of just over $24,000 with limited transactions and trading volume. In a similar incident earlier this year, Ghana’s President John Mahama’s account was compromised to endorse a scam coin called Solanafrica, with misleading claims about fast, fee-free cross-continental payments. The story also recalls previous political ties with crypto marketing, such as memecoins promoted by US President Trump and a controversy over Argentina’s LIBRA token, which crashed in value following endorsement. The repeated misuse of high-profile political figures’ accounts for promoting dubious tokens has raised concerns about cybersecurity and market manipulation in the crypto space.