The Twitter account of Giggle Academy, an educational project owned by Binance founder Zhao Changpeng (CZ), was hacked. Hackers promoted false play-to-earn rewards despite CZ's statement that no tokens would be issued.
The Hack and Its Consequences
The hack of Giggle Academy's account has raised questions about social media security within crypto-related projects. Hackers tried to deceive users with promises of rewards, which could have led to financial losses.
No Token Issuance
Despite hackers' claims, CZ had previously stated that the project would not issue its own tokens. This caused confusion among users and highlighted the importance of verification through official channels.
The Role of Social Media in Security
The incident showed how fraudulent promotions can use trusted platforms to deceive crypto users. Users were warned to be cautious with such posts and avoid interacting with content that supports unauthorized token-related activities.
The incident with Giggle Academy highlights the importance of social media security, especially in the crypto sector, where false advertising can lead to substantial losses.
