Threat Actor Steals Half Million With 15 Hacked X Accounts: ZachXBT

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Threat actor steals $500,000 in meme coin scams promoting stolen X accounts. ZachXBT recommends not reusing emails and not using security keys for important accounts.

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According to blockchain sleuth ZackXBT, one threat actor made approximately $500,000 in a series of Meme Coin scams opened by more than 15 X accounts. The hacked labels include Kick, Cursor, Alex Blaneya, The Arena and Brett, among others.

1/3 threat actor stole ~$500K last month by linking to 15+ X accounts (Kick, Cursor, Alex Blania, The Arena, Brett, etc.) by sending targeted phishing emails to steal X team credentials and then launch meme coin scams. pic.twitter.com/HEWQdVICgJ

— ZachXBT (@zachxbt) December 24, 2024

The attacker gained access by sending targeted phishing emails masquerading as an X Group connection to steal user credentials, ZackXBT reported.

The scheme involves sending fake copyright infringement notices to create urgency and trick users into visiting phishing sites, where they can use two-factor authentication (2FA) and reset their passwords.

All account withdrawals are linked to one forwarding address for each scam. The attacker tried to hide the source of funds by moving assets between the Solana and Ethereum networks.

ZachXBT advises users to avoid reusing email addresses across services and to use security keys on accounts that require 2FA.

Hacking social media accounts has become a widespread strategy for cybercriminals looking to promote fake cryptocurrency projects or tokens. They often target famous personalities and brands to give them credibility in their scams.

Earlier this month, the SEC accused the Cardano Foundation of having its official X account hacked for spreading false information and promoting a fraudulent token linked to Solana.

The misinformation caused confusion in the Cardano community and negatively affected the price of ADA, which fell by 4% to $1.18.

Separately, rap star Drake's official X account has been hacked to promote a fake meme coin called ‘Anita'.

The adversary misled followers with fake token details and project character by making false partnership claims about its partnership with gambling platform Stake. Both the misleading posts and the Project X account were quickly removed and banned.

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