Overview

• Hulk Hogan's social media was used without his consent to promote the $HULK memecoin.
• The coin's market cap dropped from $17 million to $2 million within minutes.
• Hogan warned followers on Instagram that the posts were not from him and would be removed.
• The incident highlights the risks of celebrity-endorsed cryptocurrencies.
• Vitalik Buterin and other crypto leaders have criticized the trend of celebrity memecoins.