Cryptocurrency Litecoin’s X account briefly promoted a fake virtual token on the Solana network to its followers after a hacker gained temporary access to the social media account.
Fortunately, Litecoin’s social media team quickly took action and successfully regained control of the account by warning its followers about the fraudulent SOL-based token.
Hacking incident
Litecoin’s social media account on Platform X was reportedly briefly compromised by a scammer to use it as a promotional tool for a fake digital asset.
An online fraudster hacked the cryptocurrency’s official X account while promoting a fake token on the Solana network, according to a report.
Litecoin’s X account was briefly compromised today and unauthorized posts were made. These were only active for a few seconds before being deleted. We’re still investigating the issue, but we immediately found a delegated account that was compromised and removed…
— Litecoin (@litecoin) January 11, 2025
Information revealed that the hacker also provided a contract address and a Pump.fun scam link aimed at scamming people with the fraudulent token and getting away with other people’s money.
In a now-deleted X post, the scammer wrote grammatically incorrect content and said, “LTC is now in Solana.”
The Litecoin team is back in control
The Litecoin team said that the hacker was only able to gain control of the AX account for a short time as he was able to restore access to the social media account.
“Litecoin’s X account was briefly compromised today and unauthorized posts were made. These were only active for a few seconds before being deleted,” the team said.
The cryptocurrency team announced that the matter had been resolved and the LTC official team was now back in control of the X account.
Foresight Ventures Twitter/X Has Been Hacked and Posts Fake AI Cryptocurrency Information. Previously, Litecoin’s official Twitter account was hacked and the hacker posted information on the account promoting fake Solana-based Litecoin tokens with scam links.…
— Wu Blockchain (@WuBlockchain) January 12, 2025
“We are still investigating the issue, but we immediately found a compromised delegated account and removed it. We apologize for any confusion,” Litecoin said.
A crypto analyst said the hacking incident was a warning that scammers are lurking in the digital currency space, saying: “There are many scammers in the crypto space who will try to steal your money or crypto.”
Hacking incidents are increasing
There are increasing incidents where cryptocurrency social media accounts and associated personalities are being targeted by cyber fraudsters.
Their modus operandi is to illegally access an X account and use it to promote fake crypto projects or tokens in order to steal money or crypto from their victims.
The hacking incident was not an isolated incident, but part of an apparently planned attack on high-profile X accounts that were to be used for their illegal activities.
Some analysts noted that what happened to Litecoin’s X account only underscores the need to strengthen cybersecurity measures in the crypto space to prevent the promotion of fraudulent tokens and phishing schemes.
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