Litecoin X account was compromised on January 11 in a phishing scam promoting a fraudulent Litecoin token on the Solana network.
| Key Takeaways: – Litecoin X account was compromised to promote a fake Litecoin token on the Solana network. – The Litecoin team regained control, identified a compromised delegated account as the entry point. |
The attackers posted a misleading message claiming, “LTC is now in Solana,” accompanied by a fake contract address and a suspicious link to a fraudulent token.
The project team moved swiftly to address the breach, confirming that the Litecoin X account was hacked through a delegated account that had been compromised, which has since been deleted. They reassured users that they had regained control of the account and were conducting an investigation into the incident.
During the brief hack, the scam token’s market capitalization rose to $27,000, if only for a brief moment, per DEX Screener, before settling back at $3,400. The tweet and the scam content that it linked have since been deleted.
Crypto-related social media account hacks have been on the rise of late, with cybercriminals leveraging them to disseminate misinformation to pump fake tokens or phishing attacks.
The incident follows other high-profile hacks on X accounts. In October, EigenLayer’s account was compromised to advertise a fake airdrop, and in December, the Cardano Foundation’s account was hijacked to disseminate false claims of an SEC lawsuit and promote another fraudulent Solana-related token.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
