Altcoins

The cryptocurrency industry faced yet another wave of security breaches this past weekend as multiple high-profile X accounts were hacked. Among those targeted were the official accounts of Litecoin and Foresight Ventures. Hackers used these accounts to promote fake tokens linked to Solana and AI projects. A Pattern of Attacks on Prominent Accounts Litecoin’s Official X Account Breached On January 11, 2025, Litecoin’s official X account was compromised. The attackers promoted a fraudulent Solana-based token using Litecoin's ticker symbol, "LTC." The scam briefly inflated the token’s market cap to $27,000 before crashing to $3,400 as scam alerts were raised. The Litecoin team quicky took steps to regain control, delete the unauthorized posts, and investigate the breach. “Litecoin’s X account was briefly compromised today and posts that were not authorized were published. These were live only for a matter of seconds before being deleted. We’re still investigating the issue, but immediately found a delegated account that was compromised and removed," the team announced. Foresight Ventures Targeted Foresight Ventures’ X account, with its 28,000 followers, was also compromised over the same weekend. Hackers used the account to promote fake "AI agent" tokens. With close ties to blockchain and AI projects, the breach was particularly alarming. LayerZero Labs and Holoworld AI Other notable accounts targeted included LayerZero Labs co-founder Ryan Zarick and Holoworld AI, which boasts over 150,000 followers. These accounts were exploited to push scam tokens, with restricted replies to avoid user warnings. While, account holders quickly regained access, some users fell victim to the scams. Reports suggest that over $500,000 was raised by hackers through 15 compromised accounts. A Broader Trend of Social Media Hacks The cryptocurrency community has seen a surge in X account compromises. In late 2024, the Cardano Foundation’s X account was hacked, spreading false claims of an SEC lawsuit and promoting a scam token named "ADAsol." Security researcher ZachXBT revealed that related attacks in 2024 alone led to $3.5 million in stolen funds through memecoin scams. High-profile individuals, including musicians Drake and Wiz Khalifa, and companies like AI startup Anthropic, have also been targeted. These incidents expose not just the financial vulnerabilities but also the reputational risks for affected parties. Protecting Against Social Media Compromises Social media platforms, especially X, have become critical tools for cryptocurrency projects to communicate with their communities. However, these platforms are increasingly exploited by hackers to execute scams. Common Attack Methods: Phishing Emails: Hackers often use emails that appear legitimate to trick account holders into revealing login credentials. Exploiting Delegated Access: Compromised third-party applications with delegated permissions can also be an entry point for attackers. Security Recommendations: Enable Two-Factor Authentication (2FA): This adds an extra layer of security, making it harder for hackers to access accounts. Regularly Review Access Permissions: Remove unused or unnecessary third-party app connections.

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Litecoin's official account was used to push a fraudulent Solana-based LTC token, which briefly surged to a $27,000 market cap before collapsing after a scam alert.The cryptocurrency industry faced yet…

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