Emily Walker
The official X account for cryptocurrency Litecoin was briefly hacked, leading to the promotion of a fake token on the Solana network. The breach was quickly addressed, and control of the account was restored by Litecoin’s social media team, who also alerted followers about the scam.
Details of the Hacking
The Litecoin social media account on X was momentarily compromised by a hacker, who used it to promote a fraudulent digital token. Reports indicate that the attacker posted misleading information about this token being associated with Litecoin.
As per a statement, unauthorized posts regarding a fake token were published during the hack, although they were removed within seconds. The hacker provided a contract address along with a link designed to deceive users into participating in the scam.
Litecoin’s X account was briefly compromised today and unauthorized posts went live for a few seconds before deletion. We are investigating and have removed the compromised account…
— Litecoin (@litecoin) January 11, 2025
The posts included poorly written claims suggesting, “LTC is now in Solana.”
Regaining Control
Fortunately, Litecoin’s social media team was able to quickly regain access to their account, minimizing the time the hacker had to operate.
They confirmed, “Litecoin’s X account was briefly compromised, and unauthorized posts went live only for a few seconds before we deleted them.” The team’s prompt actions ensured that control was restored and they apologized for any confusion the incident may have caused.
Foresight Ventures’ Twitter/X has been hacked and is now sharing false crypto-related AI information. Earlier, Litecoin’s official account was compromised to promote fake tokens based on Solana…
— Wu Blockchain (@WuBlockchain) January 12, 2025
“We’re still looking into the issue but managed to find and disable the compromised account immediately. We thank everyone for their understanding,” stated Litecoin.
A cryptocurrency analyst remarked that this breach serves as a stark reminder of the presence of scammers in the digital currency realm, affirming that there are those who aim to steal money or cryptocurrency.
Rise in Hacking Incidents
There’s an alarming increase in incidents where social media accounts related to cryptocurrencies and their influencers are being targeted by cyber fraudsters.
These hackers typically infiltrate X accounts to advertise deceptive crypto projects or tokens for the purpose of stealing funds from their victims.
This event is not an isolated incident but part of a broader trend involving coordinated attacks on prominent X accounts for illegal activities. Some experts have pointed out that what transpired with Litecoin’s account underscores the urgent necessity for robust cybersecurity practices in the cryptocurrency space to combat fraudulent promotions and phishing efforts.
Featured image from Pexels, chart from TradingView