The Twitter account of American music producer and DJ Steve Aoki has been compromised and used to conduct a phishing scam that led to the loss of at least $170,000 worth of cryptocurrency assets.
Reports by a Friday tweet by on-chain sleuth ZachXBT, the attacker utilized their illicit access to Aoki’s account to execute the scam by falsely claiming that the musician had joined the $PSYOP crypto token train and giving a link for users to claim free tokens.
Twitter Users Lose $170K to Scammers
Shortly after scammers posted the airdrop link using Aoki’s account, cryptocurrency influencer @eth_ben, retweeted the phishing scam post for “clout,” reports by ZachXBT.
In doing so, some Twitter users who clicked on the link to claim the free crypto tokens ended up losing about $170,000 in ether (ETH) to the scammers.
Congrats to @eth_ben who decided it was a good idea to quote tweet a phishing scam posted by the compromised @steveaoki account for clout causing his followers to lose around ~$170k
— ZachXBT (@zachxbt) May 26, 2023
Phishing Scammers Targeting Cryptocurrency Users
Phishing scams are a common form of social engineering where attackers trick users into revealing their login credentials. Once the attackers obtain this information, they can access the victim’s accounts and potentially glean additional sensitive data.
The Aoki Twitter scam comes after a series of sophisticated phishing frauds that have targeted cryptocurrency investors in recent months.
In February, CryptoPotato informed that attackers targeted the Ethereum (ETH) Denver website to post a phishing link to dupe users out of their cryptocurrency. Nonetheless, the threat was quickly detected by cryptocurrency security company Blockfence.
Several months ago, blockchain-based metaverse network company The Sandbox indicated that an unauthorized third party managed to win access to the computer of one of its employees and used the information it found to send an email falsely claiming to be from The Sandbox.
As the number and scale of cryptocurrency-related phishing scams continue to go up, investors must prioritize security and vigilance in managing their digital assets.