Twitter Hack Results in $1.2 Million Loss for PleasrDAO
– PleasrDAO’s Twitter account hacked, along with the account of another team exec
– Estimated loss of over $1.2 million through interactions with the fake site/tweets
– Address linked to the malicious activity identified as 0xCb721B27CA670C806A6aAA9AC9DF6D065d24bCd5
– No details yet on how the account was used to initiate the attacks
– PleasrDAO previously known for purchasing expensive NFTs
Alarming Figures of Crypto Losses Revealed in CertiK Report
– CertiK’s quarterly report shows $300 million in digital asset losses in Q2 2023
– Data from 212 security incidents reveals $313,566,528 drained from Web3 platforms
– Losses declined by 58% compared to the same quarter in the previous year
– However, incidents still result in significant losses
– Talks of regulation may help to address bad actors in the crypto space
Exercise Caution When Engaging with Crypto Projects
– Investors must remain cautious when engaging with projects in the crypto space
– Losses of over a million dollars still occur
– Regulation discussions are promising developments for the industry
– Caution and due diligence are necessary to avoid losses
– Stay updated with the latest news and developments in the cryptocurrency market.
Hot Take
The recent Twitter hack of PleasrDAO’s account is a stark reminder of the risks involved in the crypto space. With over $1.2 million lost, it is crucial for investors to exercise caution and conduct thorough research before engaging with projects. While the decline in losses compared to the previous year is encouraging, incidents like these highlight the need for continued regulation and oversight. By staying informed and staying vigilant, investors can mitigate risks and protect their assets in the ever-evolving crypto landscape.