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Scam Alert: Cryptocurrency Accounts Hijacked, Users Exposed to Potential Scams
The Incidents
Recently, several account hijackings on X have raised alarm in the crypto community. The incidents involved the official accounts of Litecoin, Foresight Ventures, and Holoworld AI being compromised to promote fraudulent cryptocurrencies and phishing links, exposing users to potential scams.
Litecoin Account Compromised
On January 11, Litecoin confirmed that its official X account was briefly compromised, and unauthorized posts were published. The attackers shared content promoting fake Litecoin tokens linked to the Solana blockchain. One of the posts read, "LTC is now in Solana." It also included a contract address and a link to a scam token on Pump.fun. The posts were deleted within seconds, and the team identified a compromised delegated account as the source of the breach, which was removed.
Foresight Ventures Account Compromised
Foresight Ventures also suffered an attack on Saturday. Hackers used the company’s account to promote a token called MingAI, described as an AI-powered crypto assistant. To build credibility, the bad actors shared links to the token’s contract, a trading tracker, and a Telegram group.
Holoworld AI Account Compromised
Holoworld AI was another target. On January 10, suspected scammers posted misleading information about an airdrop for AVA tokens on its profile. The fake post read, "AVA Distribution Event 1, The Q1 Distribution is based on your current holdings and on-chain activity." It also directed users to a portal to check allocations and claim tokens.
A Broader Issue
The recent string of hacks is part of a broader rise in phishing attacks targeting crypto users on the social media platform. Research from Scam Sniffer, a blockchain security firm, indicates that phishing attacks reached unprecedented levels in 2024, causing approximately $494 million in losses and compromising more than 330,000 crypto wallet addresses. The firm attributed most of these incidents to impersonation accounts, which lured unsuspecting users to malicious websites through deceptive comments and private messages.
Prevention and Mitigation
To fight back against the growing menace, Binance recently announced that it had prevented more than $129 million from being lost to scams in 2024 using artificial intelligence and machine learning. The crypto exchange said it identified and blacklisted 47,000 malicious addresses, issued 15,000 daily alerts, and made over 30,000 phone calls warning users of potential harm.
Conclusion
The recent account hijackings and phishing attacks highlight the importance of vigilance and awareness in the crypto community. As the industry continues to grow, it is crucial to prioritize security and education to prevent such incidents in the future.
FAQs
Q: What were the affected accounts?
A: The official accounts of Litecoin, Foresight Ventures, and Holoworld AI were compromised.
Q: What was the modus operandi of the attackers?
A: The attackers promoted fraudulent cryptocurrencies and phishing links to deceive users.
Q: What was the estimated loss in the 2024 phishing attacks?
A: According to Scam Sniffer, the attacks caused approximately $494 million in losses and compromised more than 330,000 crypto wallet addresses.
Q: How can users protect themselves from phishing attacks?
A: Users should be cautious of suspicious links and posts, verify information through official channels, and keep their personal information and cryptographic keys secure.
