Vivek Ramaswamy's account on X was compromised by hackers who used it to spread false information about a partnership with the Usual project.
Account Breach Details
In now-deleted posts, the hacked account of Vivek Ramaswamy announced a supposed partnership between his department and the cryptocurrency project Usual to decrease the federal deficit. These statements were false and quickly discredited.
Reactions from Officials
Fund manager James Fishback confirmed the breach, stating that Ramaswamy is locked out of his account and that it is a scam.
Context and Background
The involvement of Ramaswamy and Tesla founder Elon Musk with the Department of Government Efficiency is part of an initiative by U.S. President-elect Donald Trump. The main mission is to eliminate wasteful spending in the government's $6.75 trillion budget for 2024. The false announcements triggered a price surge in Usual token by 30% to $1.57 before market stability was restored.
The hacking incident raises concerns about the security of social media accounts of public figures. More vigilance is needed to prevent similar incidents in the future.
