NBA coin scam returns – Suspected hack targets basketball fans

In a shocking development, it was revealed that the National Basketball Association (NBA)’s official Instagram account had been compromised. This happened after the account posted a promotion for a Solana [SOL]-based memecoin called $NBA Coin, urging followers to join the community and buy the token.

The post included a cryptocurrency contract address, which users could use to identify and trade the token. However, the promotional language and the fact that comments were later disabled raised suspicions that the account had been hacked.

Adding to the skepticism, the post was subsequently deleted, and the account returned to sharing regular basketball content. But although the incident appeared suspicious, the NBA had not publicly confirmed the suspected breach in any of its recent posts.

The NBA account deception

The token was reportedly created on Pump.fun and had a market capitalization of approximately $3,500 on the 14th of October, suggesting limited trading activity at that time.

However, since the promotion came from a globally recognized brand, it did attract attention and might have also encouraged unsuspecting fans to purchase the token, believing it had the league’s endorsement. So, if the promotion was unauthorized, buyers could face losses given the decline in the token’s price. 

Well, this isn’t the first time the NBA was hacked. Back in March 2025, hackers compromised the NBA’s official X account and other regional accounts to promote the $NBA coin, falsely presenting it as an official digital asset.

That time too, the post was deleted within minutes, and the league confirmed the accounts had been hacked. 

2026 still echoes the 2025 memecoin scam epidemic 

Though the situation looks like it’s under control, memecoin scams still continue to be a major problem in 2026. Despite greater awareness of cryptocurrency fraud, scammers continue to exploit social media hype, celebrity endorsements, compromised accounts, and investors’ FOMO (fear of missing out). 

One striking example emerged recently in September 2026, when blockchain analytics firm Bitquery linked 56 memecoin launches to a single operation on Robinhood Chain, estimating that the group netted $15.5 million.

Of the 55 tokens that traded against ETH, 53 lost at least 90% of their value from their peaks. Investigators found that wallets funded by the same operation bought tokens early and sold them to later buyers. 

This further coincided with Elon Musk reportedly being drawn into promoting the SLINK memecoin after hackers compromised the X account of Shivon Zilis, a Neuralink executive and the mother of four of his children.

Final Summary

• The $NBA Coin had a market capitalization of approximately $3,500 on the 14th of October.
• The account was also compromised in March 2025, along with other regional accounts, to promote the $NBA Coin.