India-based cryptocurrency exchange CoinDCX has fallen victim to a hack. Their Twitter account was successfully hacked, after which the account was used to promote fake XRP ads. This was an attempt to scam the followers of the exchange.
Restore Account Control
The hack has also been confirmed by the CoinDCX team. Their customer service flagged the attack and warned all their users not to click on any links or messages from the Twitter account. The team is hard at work to regain control of the account. Soon they will come with more info about this hack.
To avoid being blunt, the hackers initially retweeted messages from Ripple Labs CEO Brad Garlinghouse. It would also increase the legitimacy of the scam. In the meantime, however, malicious scam links were also posted.
Although the hack is still under investigation, users who clicked on the scam links may be at risk of losing their digital assets. If the problem is not resolved quickly, the losses could potentially become very serious. The official Twitter account currently has more than 230,000 followers and therefore reaches many potential victims.
Not the first hack
It is certainly not the first crypto company to be attacked in this way. A similar thing recently happened at one of the Big Four accounting firms. Their Twitter account was flooded with links to fake XRP giveaways at the time.
Also, the YouTube account of the government of South Korea has recently been plagued by an Elon Musk scam giveaway. The account was compromised and renamed SpaceX Invest because it posted fake videos of Musk talking about crypto.
Earlier today it was announced that the crypto trading company Wintermute was hacked. The hackers managed to steal no less than $160 million. Do you want to know more about this? Click here to go to the relevant article.
Unfortunately, it does indicate that crypto-related hacks are becoming increasingly popular. Such attacks are becoming more common. CoinDCX will not be the last company to come under attack from cyber attacks.