Hackers Steal $500K in Phishing Scam Targeting Solana Tokens on X
- Phishing attacks on X exploit fake Solana tokens.
- Hackers move funds between networks to hide their origin.
- Experts recommend extra security with physical 2FA.
Solana investors have been targeted in a sophisticated phishing attack that resulted in the theft of around $500. The attack involved compromising 15 popular X accounts, including those of Brett, Kick Streaming, and Alex Bania, using fake copyright infringement emails.
1/3 A threat actor has stolen ~$500K over the past month by compromising 15+ X accounts (Kick, Cursor, Alex Blania, The Arena, Brett, etc) from sending targeted phishing emails which impersonated the X team to steal credentials and then launch meme coin scams. pic.twitter.com/HEWQdVICgJ
— ZachXBT (@zachxbt) December 24, 2024
According to blockchain researcher ZachXBT, criminals exploited the urgency created by fake copyright notices to drive victims to phishing websites. On these fraudulent pages, users were tricked into resetting passwords and two-factor authentication (2FA) information, allowing attackers to access their credentials.
After taking over the accounts, the hackers promoted fake tokens tied to the Solana network. These posts included contract addresses and instructed followers to invest using Solana (SOL), luring victims into transferring their funds to fraudulent projects. All transactions were traced back to a single deployment address, providing evidence of the connection between the attacks.
Phishing on X: A Growing Strategy
The increased use of X by cryptocurrency projects for advertising purposes has attracted the attention of cybercriminals. Researcher ZachXBT noted that fake emails remain an effective tool for tricking unsuspecting users.
The security discussion was expanded upon by X user @loo_here, who suggested improvements such as unique codes to validate the authenticity of emails. Additionally, ZachXBT recommended the use of physical security keys to protect critical accounts.
Growing Threats to Cryptocurrency Accounts on X
Similar incidents include the hack of the Cardano Foundation’s official account in December, which was used to spread false information about an alleged SOL token. This attack led to a 4% drop in the price of ADA.
At the time of publication, the price of Solana was listed at US$185,66 with a drop of 1.5% in the last 24 hours.
Cases like that of the former Fortnite player known as Serpent, who was accused of stealing $3,5 million in meme coin scams, highlight the increasing sophistication of the schemes. Strategies such as transfers between the Solana and Ethereum networks were used to obscure the origin of the stolen funds.
Experts emphasize that users should avoid reusing emails and prioritize additional security measures to mitigate risks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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