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MicroStrategy’s X Account Hacked in ETH Token Phishing Scam, Over $440k Drained

Key Takeaways

  • Clicking the link redirects users to a fake MicroStrategy webpage, where they’re prompted to connect a wallet and claim the fake MSTR airdrop.
  • As per blockchain analyst ZachXBT, losses from the scam have surpassed $440,000.

On Monday, February 26, MicroStrategy, a prominent business intelligence firm recognized for its substantial holdings in Bitcoin, found itself embroiled in a cybersecurity incident.

The company’s official social media account, known as X, was compromised by hackers, who utilized it to propagate a deceptive scheme involving a fake Ethereum-based token airdrop. With a sizable audience of over 196,000 followers, the X account became a conduit for fraudulent activity.

The hackers, whose identities remain unknown, capitalized on MicroStrategy’s stature within the cryptocurrency realm, leveraging its reputation as the largest corporate holder of Bitcoin. They introduced a spurious Ethereum token named ‘MSTR,’ falsely purporting it to be backed by MicroStrategy’s extensive Bitcoin reserves.

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Comments

Anonymous

Why is it impossible to track these scams on the blockchain, ID it, freeze it, and return the funds? Can a token be created to address this? I could only imagine how this token would blast off if it addressed this problem!

Anonymous

But RAV, then they could take anybody's