The cryptocurrency industry experienced a weekend of high-profile X account breaches, including the official accounts of Litecoin and Foresight Ventures, used to promote fake tokens.
Pattern of Attacks on Prominent Accounts
On January 11, 2025, Litecoin's official X account was compromised. The attackers promoted a fraudulent Solana-based token using the 'LTC' symbol. The token's market cap temporarily reached $27,000 before dropping to $3,400 after scam alerts. The Litecoin team quickly regained control and deleted unauthorized posts.
>**Quote: CITE_W_A**: *Litecoin's X account was briefly compromised, and unauthorized posts were published, which were live only for seconds before deletion. We are still investigating the issue*, announced the team.
Targeting Other Significant Accounts
Foresight Ventures' X account, with 28,000 followers, was also compromised to promote fake 'AI agent' tokens. This breach was particularly alarming due to the company's close ties to blockchain and AI projects. Other notable accounts targeted included LayerZero Labs and Holoworld AI, which boasts over 150,000 followers. Hackers made over $500,000 from 15 compromised accounts.
Trends in Cyber Attacks and Protection Measures
There has been a surge in X account compromises within the cryptocurrency sector. In late 2024, the Cardano Foundation's X account was hacked, spreading false SEC lawsuit claims. High-profile individuals, including musicians like Drake and Wiz Khalifa, have also been targeted.
The X platform becomes a critical risk point.
### Security Recommendations: 1. Enable Two-Factor Authentication (2FA) for added security. 2. Regularly review access permissions and remove unused third-party apps.
The increasing number of X account breaches highlights the need for enhanced security measures in the cryptocurrency industry. Platforms must implement additional protective tools to prevent future incidents.
