Polychain Capital Urges Users to Avoid CEO’s Hacked Twitter Account
Digital assets fund management company, Polychain Capital, has issued a warning to users not to interact with the X (formerly Twitter) account of its CEO, Carlson Wee, following a hack. The breach was acknowledged by the platform in a January 4 post, urging users not to engage until further notice.
Hacker Promotes Fake Airdrops on CEO’s Account
The incident was detected when the hacked account started promoting fake airdrops without authorization from management. The hacker advertised a “PCHAIN” token airdrop as part of the company’s New Year’s celebration, along with links disguised as being related to the firm.
Phishing Scams and the Risk to Crypto Users
Blockchain phishing scams have become notorious for tricking users into clicking on malicious links from compromised sources. Clicking or engaging with these scams can expose users to more hacks and potential loss of funds. In September, Vitalik Buterin’s Twitter account was hacked, resulting in victims losing $691,000 through fake links for a free non-fungible token promotion.
Phishing Scams Reach $295 Million in 2023
According to Scam Sniffers’ report on industry phishing scams, $295 million was stolen from 324,000 users over the past year. Most phishing scams occurred in March, with bad actors creating fake websites and links impersonating companies like USDC.
Hack List and Reduction in Cryptocurrency Scams
Inferno Drainer topped the list of hacks, stealing $81 million worth of assets from 134,000 users. Other notable hacks included MS and Angel Drainer. However, blockchain security firms have reported a decrease in the overall number of cryptocurrency scams since December 2022.
Hot Take: Polychain Warns Users About CEO’s Hacked Twitter Account
Polychain Capital has issued a warning to users not to interact with the hacked X account of its CEO, Carlson Wee. The breach involved the promotion of fake airdrops and disguised links. This incident highlights the ongoing threat of phishing scams in the crypto industry, which can lead to financial losses for unsuspecting users. It is crucial for users to remain vigilant and avoid engaging with suspicious accounts or clicking on unknown links. As the crypto market continues to grow, security measures must be strengthened to protect investors and prevent further hacks.
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