Litecoin X account briefly hacked to promote a fake token

On January 11, an unauthorized individual temporarily gained control of Litecoin’s (LTC) official social media platform and spread false information about a bogus Litecoin token being offered on the Solana network.

The hacker posted, “LTC has moved to Solana,” (although the original post was removed for being poorly written and unclear). The message also contained a contract address and a link to pump.fun, a platform often associated with scams involving tokens.

According to their recent announcement, the Litecoin team successfully reclaimed control of the account and stated that the breach occurred because of a delegated account that had been compromised and subsequently eliminated.

Over the past few months, there’s been a series of unauthorized accesses to accounts at X, leading to the dissemination of fraudulent tokens or fishing links aimed at stealing financial resources and confidential information.

X account hacks on the rise

Restaking protocol EigenLayer’s X account was hacked on Oct. 18 to promote a fake airdrop campaign.

The unauthorized user, posing as a hacker, spread numerous harmful links under the guise of Season 2 Stakedrop, allegedly obtained from repurposed EIGEN tokens. However, it was only after the EigenLayer team reclaimed control over the account that this activity ceased.

On November 3rd, the account of rapper Wiz Khalifa was taken over by hackers. They exploited the account to promote a bogus celebrity meme token named “WIZ,” falsely suggesting a connection between this digital currency and the musician.

On December 8th, an unauthorized individual gained access to the Cardano Foundation’s X account and exploited it to advertise a false cryptocurrency known as “ADAsol.” This action was not authorized by the foundation.

In the given situation, the malicious party deceptively declared that the Cardano Foundation was planning to discontinue its backing of the native token, ADA (ADA), as a result of a potential legal action by the U.S. Securities and Exchange Commission (SEC).

In simpler terms, a counterfeit token created around $500,000 worth of trading activity prior to being unmasked as a fraud. Subsequently, the value of “ADAsol” dropped more than 99% following the revelation of the scam.

Yat Siu, co-founder of Web3 company Animoca Brands, was the victim of an X account hack on Dec. 26.

Just as with previous instances, the swindler utilized the account to promote a false token – an unrelated memecoin on the Solana platform, named “Animoca Brands,” which is not affiliated with the renowned Web3 organization of the same name.

2025-01-12 00:23

X account hacks on the rise

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