MicroStrategy’s X Account Hacked: Users Lose Over $440,000 in Phishing Scam
The X account of business intelligence firm MicroStrategy has been hacked, resulting in users losing over $440,000 in a phishing scam. Hackers posted malicious links on the compromised account, leading users to a fake airdrop for an Ethereum-based MSTR token. Unsuspecting individuals who clicked on the links were directed to a copycat MicroStrategy page where they were asked to connect their wallets and grant permissions. Once granted, the hackers gained access to the users’ wallets and drained their tokens.
Hackers Conduct Phishing Scam through MicroStrategy’s X Account
After hacking MicroStrategy’s X account, the hackers posted links that led users to a fraudulent airdrop of an Ethereum-based MSTR token. These links directed users to a counterfeit MicroStrategy page, requesting them to connect their wallets in order to claim the tokens. In the process, users were asked to grant permissions on their Web3 wallets. By accepting these permissions, the hackers gained access to the users’ wallets and stole their tokens. As a result, users suffered significant financial losses.
Blockchain investigator ZachXBT and anti-scam platform Scam Sniffer have reported that users lost more than $440,000 due to this scam.
Losses in the Hundreds of Thousands
Scam Sniffer revealed that a single user lost over $420,000 in the phishing scam shortly after the first fraudulent link was posted on MicroStrategy’s account. The user’s altcoin assets, including Wrapped Balance AI (wBAI), Chintai (CHEX), and Wrapped Pocket Network (wPOKT), were stolen in the process. One transfer went directly to the attacker, while two other transfers were rerouted to a second wallet linked to the well-known hacking group, PinkDrainer. The attacker’s wallet currently holds around $329,000 worth of Ethereum-based tokens.
Experts Point Out the Obvious Nature of the Scam
Numerous experts in the crypto industry quickly identified the scam’s obvious nature. Cobie, a British crypto investor, pointed out that MicroStrategy, which primarily focuses on Bitcoin, would not launch a token on the Ethereum blockchain. The scam raised eyebrows due to MicroStrategy’s well-known stance on Bitcoin as the ultimate cryptocurrency and their emphasis on not diversifying into other tokens.
MicroStrategy Recovers Control of X Account
MicroStrategy regained control of their X account by 10 am Hong Kong time and promptly deleted the scam tweet. However, the company has not issued any statements regarding the incident, including how their account was compromised and the financial losses suffered by innocent users. The hacking of MicroStrategy’s account highlights the importance of vigilance and caution when engaging with crypto-related activities online.
🔥 Hot Take: The Rise of Phishing Scams in the Crypto Space
In recent years, the crypto space has witnessed a surge in phishing scams targeting unsuspecting individuals and even established companies. These scams often rely on deceiving users by imitating reputable brands and manipulating their trust to gain access to their wallets and steal their cryptocurrencies. The incident involving MicroStrategy’s X account serves as a stark reminder of the constant need for vigilance and skepticism in the crypto world.
As a crypto enthusiast, it is crucial to stay informed about the latest phishing techniques and scams in order to protect your digital assets. Here are a few key takeaways to help you navigate the crypto space safely:
- Be wary of unsolicited offers and airdrops, especially from unknown sources.
- Double-check the legitimacy of websites and social media accounts before providing any personal information or accessing your wallets.
- Always verify the authenticity of token offerings and projects before investing or participating.
- Ensure that your devices have robust security measures in place, such as up-to-date antivirus software and firewalls.
- Keep your wallets and private keys secure, using hardware wallets or encrypted storage solutions when possible.
By adopting these precautions and staying informed, you can significantly reduce the risk of falling victim to phishing scams and protect your hard-earned cryptocurrencies.
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