A hacker has been employing a deceptive strategy to gain control of prominent accounts on the social media platform X and is utilizing them to promote a counterfeit memecoin.
ZachXBT, a blockchain investigator, uncovered the scheme after tracing a series of phishing attacks aimed at important accounts. The attacker initiated the attack by sending fraudulent emails appearing to originate from the X team, falsely informing users of policy violations.
These emails were carefully crafted to create a sense of urgency, compelling recipients to click on a malicious link that redirected them to a phishing website designed to steal login credentials. Through this method, the hacker successfully hijacked more than 15 accounts, including well-known individuals like Kick, Cursor, and Alex Blania, and managed to steal approximately $500,000 in the process.
Once the accounts were compromised, the attacker locked the users out, modified security settings, and gained control over the posts. Using these accounts, they shared links promoting a fraudulent token to unsuspecting followers. To cover their tracks, the hacker also transferred funds across the Solana and Ethereum blockchains, making it more challenging to trace the stolen money.
ZachXBT advises users to adopt stronger security practices, such as avoiding reusing email addresses across platforms and enabling two-factor authentication with hardware security keys for important accounts, in order to prevent future attacks.