Ethereum’s co-founder, Vitalik Buterin, recently suffered a hacking incident when his Twitter (X) account was breached. This security lapse not only alarmed the crypto community but may also influence the overall sentiment surrounding Ethereum.
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Security firm quick to warn investors
Hackers tweeted through Vitalik‘s account advocating a commemorative NFT, touted as a celebration of “proto-danksharding”. The NFT in question was a phishing link that drained investors’ wallets.
PeckshieldInc, a reputed cybersecurity firm specializing in cryptocurrency, quickly flagged this unauthorized activity. Thankfully, the combined vigilance of the crypto community and experts led to the prompt deletion of the harmful tweets. Presently, Buterin’s Twitter seems to be safely restored.
However, the ramifications of this hack were not merely virtual. Blockchain investigator ZachXBT said the hacker pilfered over $691,000 during the attack. Digging deeper into the hacker’s spoils, it was discerned that a significant portion was in ETH. Other cryptocurrencies like ATOR, wrapped ETH, USDC, and BNB are also in the wallet.
Vitalik fell victim to a SIM swap attack
The hacking method in question here is the SIM swap, a technique where a phone number is shifted from one SIM card to another. This process can often involve fraudulent collaboration with mobile service providers. Such unauthorized SIM swaps pose a significant threat as they can lead to identity theft and unpermitted access to various online accounts.
Ethereum dips following the hack
As for Ethereum’s market performance, the incident seems to have had its toll. Data from CoinMarketCap shows Ethereum’s trading price has suffered a slight drop, with its current value standing at $1626.