Your logic seems a bit off here.
The usual scenario for hacked account spamming is as follows: Spammer takes control of account (either via phishing, malware, or more rarely social engineering) then sends spam message out to everyone on the account's contact list. It's a great way to spam since a) the people you are sending to are usually real people and b) they will be more likely to click through since the message is coming from someone they know.
What I have not seen before is a spammer gaining control an account, getting its contact list, then sending a *single* message to that very same account from someone on that contact list. What could possibly be the point when you can do the usual trick above? Spam is a numbers game for the most part, and what you're proposing has happened seems to be one of the worst possible ways to reach as many people as possible.
I'm not saying you're wrong, but just that it doesn't quite add up.