Ethereum (ETH) Co- Founder Vitalik Buterin’s Twitter Account Hacked
Reports suggest that Vitalik Buterin, co- founder of Ethereum (ETH), has had his X (formerly Twitter) account compromised. The hacked account shared a now-deleted tweet claiming that Consensys will release a commemorative NFT to celebrate the coming of the Proto-Danksharding feature on Ethereum (ETH). The hacker used Buterin’s account to share a malicious link, luring victims with the promise of a free NFT. Nonetheless, once victims connected their wallets, their funds were stolen. Dmitry Buterin, Vitalik’s father, announced the hack on X and stated that Vitalik is working on regaining control of his account. The scam has resulted in whole lot of financial losses, with victims collectively losing over $691,000. Valuable NFTs, including CryptoPunk #3983 valued at $250,543, were likewise stolen.
Users Fall Victim to the Scam
A considerable number of individuals who clicked on the deceptive link suffered financial losses. Blockchain investigator ZachXBT revealed that the total amount lost by victims exceeds $691,000. CryptoPunk #3983, worth $250,543, is the most valuable NFT stolen so far. Several users reported losing valuable NFTs to the scam. One user criticized Buterin’s security measures and suggested that he should take responsibility for the incident. Nonetheless, ZachXBT claimed that Buterin’s high profile makes him a prime target for hacking attempts and emphasized that it is premature to conclude whether it was a SIM swap attack or other forms of manipulation.
Hacks and Rug Pulls Result in $1.2 Billion Loss in 2023
In 2023, Web 3.0 platforms have lost over $1.2 Billion in hacks and rug pulls, according to a report by Immunefi. The report identified 211 separate incidents contributing to this substantial sum, with losses in August alone amounting to $23.4 Million. Most of the losses in August were linked to projects hosted on the newly launched Ethereum (ETH) Layer 2 Base network. Ethereum (ETH) experienced the highest number of attacks, with protocols built on the network being influenced by five distinct incidents.
Hot Take
The hacking of Vitalik Buterin’s Twitter account and the subsequent scam targeting users highlight the need for enhanced security measures in the cryptocurrency space. High-profile individuals like Buterin are particularly vulnerable to such attacks, necessitating robust security protocols. In addition, the whole lot of losses incurred by victims of scams and hacks emphasize the importance of caution and due diligence when engaging with digital currency platforms and projects. As the cryptocurrency industry continues to grow, it is critical for users, developers, and platforms to prioritize security and take proactive measures to protect themselves and their investments.
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