Crypto Phishing Flaws Exposed in Litecoin, Others X Account Hack

A wave of security breaches on X, previously known as Twitter, has targeted prominent crypto accounts.

These breaches allowed hackers to use the accounts to promote fake cryptocurrencies, highlighting growing security vulnerabilities within the crypto ecosystem.

Hackers Target Litecoin and Others in Crypto Phishing Schemes

On January 11, Litecoin revealed that unauthorized individuals had accessed its official X account. The attackers posted fraudulent content, including fake Litecoin tokens linked to the Solana blockchain.

These unauthorized posts were quickly deleted, but Litecoin confirmed that investigations into the breach are ongoing.

“Litecoin’s X account was briefly compromised today and posts that were not authorized were published. These were live only for a matter of seconds before being deleted. We’re still investigating the issue, but immediately found a delegated account that was compromised and removed it,” Litecoin team stated.

Other crypto organizations were also targeted. Hackers took over Foresight Ventures’ account to promote a token called MingAI, which is described as an AI-powered crypto assistant.

In an effort to boost credibility, the attackers provided links to the token’s contract, a trading tracker, and a Telegram group.

Aiccelerate, a decentralized investment platform, faced a different type of disruption. Its account was temporarily frozen, making some of its posts inaccessible. This action created further challenges for the organization in maintaining its online presence.

While the financial impact on followers remains unclear, these incidents reflect a troubling trend of attackers using phishing links and scam promotions to target crypto users. On-chain investigator ZachXBT reported that between November and December, a single hacker breached multiple X accounts, stealing over $500,000.

Moreover, research from Scam Sniffer, a blockchain security firm, shows that phishing attacks surged to unprecedented levels in 2024. These attacks resulted in over $500 million in losses, affecting more than 330,000 crypto wallet addresses.

According to the firm, the majority of incidents stemmed from impersonation accounts that directed unsuspecting users to malicious sites via deceptive comments and private messages.