A hacker has stolen nearly half a million dollars in a month-long scam using compromised accounts on X (formerly Twitter).
The Scam
Security researcher ZachXBT uncovered the scheme, revealing that over 15 high-profile X accounts were targeted. The hacker used phishing emails disguised as official X communications about policy violations. These emails tricked users into clicking malicious links, allowing the hacker to steal their credentials. Once access was gained, the hacker changed security settings, logged out existing sessions, and used the accounts to promote a fraudulent memecoin. The accounts included those belonging to well-known figures in the crypto space, such as Kick, Cursor, Alex Blania, The Arena, and Brett.
How it Worked
The attacker used sophisticated techniques, moving funds between Solana and Ethereum to cover their tracks. Neutron, a smart contract platform, confirmed that the phishing emails contained fake copyright infringement notices, urging users to reset their passwords and 2FA through a fake website.
Staying Safe
ZachXBT advises users to improve their online security by:
- Limiting email address reuse across different services.
- Using security keys for two-factor authentication (2FA) on important accounts.
The Bottom Line
This incident highlights the ongoing threat of phishing scams and the importance of strong online security practices. The loss of $500,000 underscores the significant financial risks involved.
