Hackers Target Coingecko and SEC Twitter Accounts
Hackers recently gained control of the official Twitter accounts of Coingecko and the U.S. Securities and Exchange Commission (SEC) within a 24-hour period. Coingecko issued a warning to its users not to click on any suspicious links and assured them that investigations were underway to secure their accounts.
Fake Token Launch and Airdrop
The compromised tweet from Coingecko announced the launch of a token called GCKO and directed users to a link where they could claim airdrops of the token. Unfortunately, some users fell victim to the scam and reported losing funds as a result. Concerns were raised about whether Coingecko had implemented two-factor authentication (2FA) to prevent such hacks.
SEC’s Involvement in the Hack
The SEC’s Twitter account was also compromised shortly after announcing the approval of spot Bitcoin exchange-traded fund (ETF) applications. The false news caused Bitcoin’s price to drop, prompting an investigation by X Safety, which revealed that an unidentified individual gained control of the agency’s account through a third party. Lack of proper security measures, such as 2FA, drew criticism from the crypto community.
Hot Take: Need for Strong Security Measures
The recent hacks on Coingecko and the SEC highlight the importance of implementing robust security measures in the crypto industry. Two-factor authentication (2FA) is crucial in preventing unauthorized access to accounts. It is essential for platforms like Coingecko and regulatory bodies like the SEC to prioritize user security and take proactive steps to safeguard their accounts from hackers. As the crypto industry continues to grow, maintaining trust and protecting user funds should be top priorities for all stakeholders.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.