MicroStrategy’s X account hacked, $440K lost in ETH phishing scam

MicroStrategy’s account hacked: MicroStrategy's X account fell victim to a hacking attempt, resulting in the dissemination of malicious links promoting a fake Ethereum-based MSTR token airdrop. The fraudulent links, which began circulating on February 25, redirected users to a counterfeit MicroStrategy webpage, urging them to connect their wallets to claim the purported MSTR airdrop. Upon granting permissions in their Web3 wallets, users unknowingly exposed themselves to token theft, allowing attackers to siphon funds from their wallets.

Independent blockchain investigator ZachXBT and anti-scam platform Scam Sniffer reported that losses from the scam exceeded $440,000. In a particularly devastating case, one user lost over $420,000 to the phishing scheme within minutes of the first malicious link appearing on MicroStrategy's X account.

According to CoinTelegraph, The victim transferred $424,786 worth of altcoins, including Wrapped Balance AI (wBAI), Chintai (CHEX), and Wrapped Pocket Network (wPOKT), to the attacker's wallet address. Subsequently, a portion of the stolen funds was redirected to a wallet associated with the notorious hacking group PinkDrainer.

At present, the attacker's wallet holds approximately $329,000 in Ethereum-based tokens, as reported by Ethereum DeBank.

British crypto investor Cobie pointed out the incredulity of MicroStrategy, a company deeply entrenched in Bitcoin, venturing into Ethereum-based token launches. The incident underscores the importance of vigilance and scepticism in navigating the cryptocurrency landscape, particularly in light of sophisticated cyber threats.