Kaito AI and its founder Yu Hu were targeted in a social media attack on March 15, leading to false claims about wallet security.
Kaito AI Account Compromise
Kaito AI users, relying on its platform for crypto market analysis, witnessed a social media account hack on March 15. Hackers posted false messages claiming Kaito wallets had been compromised and that user funds were at risk. According to DeFi Warhol, the hackers opened short positions on KAITO tokens before posting, hoping to induce panic selling and a price drop.
Access Restoration and Team's Assurance
The Kaito AI team swiftly regained control of the account and refuted claims of compromised wallets. In a public statement, they noted, "We had high-security standards in place to minimize hack damage."
Recent Incidents in the Crypto Industry
The Kaito AI incident is one of several recent hacks impacting the crypto industry. Similarly, the Pump.fun account was hacked by actors spreading fake tokens, and the Canadian regulator recently warned of scams involving fake news and endorsements by well-known politicians.
The attack on Kaito AI's social media account is a reminder of the importance of cybersecurity in today's digital age. Crypto industry users must remain vigilant and take precautions to safeguard their assets.
