March 27, 2024
Latest Cryptocurrency News

Vitalik Buterin’s X Account Hacked: $700,000 in NFTs and Crypto Assets Stolen in Audacious Phishing Attack

In a stunning turn of events, Ethereum co-founder Vitalik Buterin’s X account (formerly Twitter) recently fell victim to a security breach, resulting in the theft of approximately $700,000 worth of non-fungible tokens (NFTs). This article explores the intricacies of this audacious phishing attack, shedding light on the tactics employed by the perpetrators and the tools they utilized to carry out their malicious scheme.

The incident unfolded when hackers surreptitiously gained control of Buterin’s X account. Subsequently, the compromised account was exploited to promote a counterfeit NFT commemorative coin. The lure was enticing, with the scam falsely claiming to offer limited-time opportunities for users to swiftly mint these commemorative NFTs. However, the link provided led unsuspecting victims to a phishing website that posed a significant threat.

Estimates from cryptocurrency investigator ZachXBT and blockchain data suggest that this phishing attack resulted in losses totalling approximately $700,000, comprising both cryptocurrency and NFT assets. Notably, among the pilfered assets was a valuable CryptoPunk NFT valued at 153 ETH, equivalent to $250,000. Additionally, numerous individuals lost substantial amounts of Ether during the attack.

The modus operandi of the attack involved the utilization of a well-known tool in the cryptocurrency realm known as “Pink drainer software.” This software, recognized for its involvement in several high-profile phishing attacks over the years, is employed to siphon NFTs and cryptocurrencies from unsuspecting victims.

It is crucial to comprehend that Pink Drainer software is often developed and sold by malicious actors to individuals interested in conducting phishing attacks. In exchange for using this software, attackers typically share a portion of their illicit gains with its creator. In some instances, the creators themselves engage in attacks using their software, adding a layer of complexity to these nefarious activities.

Image by Sam Williams from Pixabay

Related posts

Binance Announces New STP Function to Prevent Unintentional Self-Trades

Anna Garcia

U.S. Department of Justice Secures $3 Billion in Confiscated Cryptocurrencies from Silk Road

Henry Clarke

LayerZero Announces Native Token Launch

Kevin Wilson

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More