HomeNewsEthereum's Vitalik Buterin Loses $700,000 in X Twitter Account Breach

Ethereum’s Vitalik Buterin Loses $700,000 in X Twitter Account Breach

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  • Ethereum co-founder, Vitalik Buterin’s X (formerly Twitter) account was breached.
  • Hackers swindled nearly $700,000 by sharing a misleading link posing as a commemorative NFT release.

In a recent post by crypto enthusiast dima.eth, concerns were raised regarding a potential security breach on Ethereum co-founder, Vitalik Buterin’s X account. “@BlockGeekDima noted, “Disregard this post, apparently Vitalik has been hacked. He is working on restoring access.” The hack led to nearly $700,000 in losses for those who mistakenly clicked on the deceptive link shared on the account.

A Trap Disguised as a Commemorative NFT

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Upon gaining control over Buterin’s X account, cybercriminals posted a spurious link, purportedly promoting the release of a special NFT by ConsenSys to commemorate Ethereum’s Proto-Danksharding. The link, which promised users a free NFT, was nothing more than a bait. Due to its appearance from Buterin’s verified account, many were deceived. Those who took the bait, unfortunately, had their NFTs stolen by the hackers.

The swindlers employed a familiar trick. Clicking on the sham link granted them entry into the digital wallets of the unsuspecting victims, leading to a massive loss of NFT assets. Among the notable losses were Ethereum developer BookyPooBah’s two CryptoPunks and other well-regarded NFTs. ZachXBT, an on-chain analyst, pegged the total loss at approximately $691,000.

X’s Security Concerns Amplify

The episode is a stark reminder of the growing phishing concerns on the X platform, which has witnessed a concerning surge in such scams this year. Key figures in the crypto realm, including ZachXBT and Binance’s CEO Changpeng Zhao, have voiced their increasing anxiety over the prevalence of these cybercrimes. The malevolent actors often use verified bots and deliberately aim at high-profile accounts to circulate their misleading links.

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Earlier in the year, accounts of several eminent personalities, such as Uniswap founder Hayden Adams and blockchain network Aptos, were compromised. Another disturbing event saw a crypto enthusiast losing a jaw-dropping $24 million to a phishing tactic.

Addressing the worrisome trend, Changpeng Zhao emphasized the need for better security measures on platforms like X, suggesting enhanced features like 2FA and distinct login IDs. Reflecting on his experiences, Zhao mentioned,

“In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it.”

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Kenny Williams
Kenny Williams
Kenny Williams is a crypto fanatic and writer with a deep passion for blockchain technology. He holds a degree in computer science from University of Texas at Austin and has been actively involved in the crypto world for over 6 years. When he's not writing or researching, Kenny enjoys tinkering with technology and building his own blockchain projects. He's also an avid traveler and loves to explore new cultures and cuisines around the world.
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