Crypto Phishing on X Escalates, Targeting High-Profile Accounts

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As a researcher, I’ve recently observed a series of cybersecurity incidents that have specifically targeted high-profile cryptocurrency accounts on the platform once recognized as Twitter.

These security lapses provided an opportunity for hackers to exploit user accounts, using them to advertise fraudulent cryptocurrencies, thereby underscoring the increasing threats to security within the digital currency marketplace.

Hackers Target Litecoin and Others in Crypto Phishing Schemes

It was disclosed on January 11 that unapproved users managed to gain access to Litecoin’s official X account. These intruders published misleading information, such as false Litecoin tokens connected to the Solana blockchain.

The unauthorized posts were swiftly removed, with Litecoin stating that they’re continuously looking into the security incident.

Today, unauthorized posts appeared briefly on Litecoin’s X account. They were online for just a few seconds before they were taken down. The Litecoin team is currently looking into the matter, but they quickly identified and removed a delegated account that had been hacked.

Additionally, other cryptocurrency organizations faced similar attacks. It was discovered that hackers had taken control of the Foresight Ventures account in order to advertise a digital token named MingAI, described as an intelligent AI-assistant within the crypto sphere.

To enhance trustworthiness, the assailants shared links to the token’s underlying contract, a platform for tracking trades, and a Telegram community forum.

A decentralized investment platform called Aiccelerate encountered an unusual interruption: their account was momentarily blocked, rendering certain of their posts unreachable. This move added to the difficulties that the company faced in keeping up its digital profile.

It’s uncertain how these events will affect followers financially, but they underscore a concerning pattern: cybercriminals are exploiting phishing links and fraudulent offers to prey on crypto users. As reported by on-chain investigator ZachXBT, a single hacker infiltrated numerous X accounts from November through December, making off with more than half a million dollars.

Furthermore, data from Scam Sniffer, a company specializing in blockchain security, indicates an alarming increase in phishing incidents during the year 2024. This surge led to estimated losses of approximately $500 million, impacting over 330,000 cryptocurrency wallets.

Based on the company’s findings, most issues were traced back to fake accounts that led innocent users to harmful websites using misleading comments and personal messages.

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2025-01-12 19:24