The recent incident involving the X account of Semler Scientific chairman Eric Semler has raised significant concerns within the cryptocurrency community. Reports indicate that the account is believed to have been compromised, leading to the dissemination of posts regarding the creation of a new Solana-based token trading under the same symbol as Semler Scientific at Nasdaq.
The initial post on the hacked account hinted at the project’s ambition to provide ‘institutional-grade Bitcoin exposure to a high-performance ecosystem with deep liquidity and low fees’ by launching the token on the Solana blockchain. This announcement quickly captured the attention of crypto enthusiasts and investors alike.
Additionally, subsequent posts suggested that a considerable portion of the token’s supply had been dispatched to several leading cryptocurrency exchanges, further inflating interest and speculation surrounding the new token.
The token, branded with the ticker symbol SMLR, commenced trading on the Solana-based decentralized exchange Raydium. It experienced a staggering 300% surge immediately after its launch, showcasing the volatile nature of cryptocurrencies and the impact of social media on market behavior. However, this euphoria was short-lived; the token has since plummeted, currently down 77% from its peak according to data from DEXScreener.
Given the account’s compromised status and the rapid fluctuations in the token’s value, concerns regarding the authenticity and intentions behind the SMLR token have emerged. CoinDesk has reached out to Semler Scientific for comments to clarify the situation.
As the cryptocurrency landscape continues to evolve, incidents like these serve as a reminder of the inherent risks and challenges associated with digital asset trading, particularly in an environment where security breaches can lead to widespread confusion and financial losses.
