Ethereum Co-Founder Vitalik Buterin’s X Account Hacked, Resulting in $700,000 in Crypto and NFT Losses
Last night, a hacker gained control of Vitalik Buterin’s X account and proceeded to steal $700,000 worth of cryptocurrency and NFTs. The hacker used the compromised account to promote a fraudulent NFT mint with a limited time offer, tricking users into interacting with a phishing website that siphoned off their digital assets.
Estimates from crypto researcher ZachXBT and on-chain data suggest that approximately $700,000 in crypto and NFTs were lost in this phishing attack. This includes a CryptoPunk NFT valued at $250,000 and various amounts of ether from multiple individuals. Most of the stolen NFTs have already been sold, and the hacker’s wallet still holds a significant portion of the proceeds.
The Rise of NFT Drainer Software
Evidence suggests that the hacker utilized Pink drainer software, a popular tool in the underworld of bad actors who create and sell software for NFT phishing attacks. These attackers often pose as journalists affiliated with crypto media organizations, employing tactics such as encouraging targets to bookmark malicious documents in their browsers.
To combat these attacks, it is advisable to store valuable NFTs and large amounts of cryptocurrency in cold storage rather than hot wallets. Additionally, emerging tools like Delegate Cash allow NFT owners to delegate rights to other wallets, granting access to gated NFT community areas without needing constant interaction with the wallet holding the NFT.
Hot Take:
The hacking of Vitalik Buterin’s X account highlights the persisting threat of phishing attacks in the crypto space. It serves as a reminder for individuals and organizations to remain vigilant and take necessary precautions to protect their digital assets.
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