The Algorand Foundation Reports Hacking of CEO’s Twitter Account
The Algorand Foundation, a blockchain platform known for its fast and inexpensive transactions, has announced that the Twitter account of its CEO, Staci Warden, has been hacked. The foundation issued a warning to users, advising them not to click on any links or respond to private messages from the compromised account in order to prevent potential asset theft.
Hacker Claims CEO Has Left Algorand Foundation and Stolen Funds
In response to the hacking incident, well-known blockchain investigator ZachXBT commented on the situation, suggesting that the hacker would make a better CEO for the Algorand Foundation. The hacker took control of the CEO’s profile description and falsely claimed that they had left the company after draining significant funds from customers. They also manipulated customers into believing it was an external hack.
Hacker Promises to Give Away Ethereum Based on ALGO Token Price Drop
Furthermore, the hacker made a post promising to give away one Ethereum (ETH) for each percentage point that the price of ALGO token drops during the week. Despite this incident, the price of ALGO did not experience a significant decline. In the past 24 hours, the token only fell by 1.14% to $0.1606, while trading volumes dropped by 7% to $29.9 million.
Similar Incident with CertiK’s Twitter Account
It’s worth noting that in early January, the Twitter account of CertiK, a company specializing in security audits of smart contracts, was also hacked. The hackers posted a phishing link on CertiK’s page, leading to a browser extension called Revoke.cash that claimed to protect against crypto scammers. The platform quickly responded and acknowledged the potential hacking of their account.
Hot Take: Security Risks Continue to Haunt Crypto Industry
The recent hacking incidents targeting high-profile individuals and companies within the crypto industry highlight the ongoing security risks faced by participants. It is crucial for users to remain vigilant and avoid interacting with suspicious links or messages that may compromise their assets. Additionally, these incidents serve as a reminder for companies to enhance their cybersecurity measures and implement robust protocols to protect against unauthorized access and potential breaches.
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