MicroStrategy, the Largest Corporate Owner of Bitcoin, Falls Victim to X Account Hack: $400,000 Lost!

• According to the latest report, a large-scale “phishing” attack took place on the Twitter account of MicroStrategy, the world’s largest corporate owner of Bitcoin.
• Reportedly, a tweet announcing the launch of the Ethereum token $MSTR appeared on MicroStrategy’s official account.
• According to cybersecurity analyst ZachXBT, the unauthorized post has already led to a significant loss of $440,000.

MicroStrategy, the largest corporate owner of Bitcoin, falls victim to X account breach: Hackers seize $400,000!

MicroStrategy’s X Account Compromised

According to the latest report, a significant “phishing” attack occurred on the Twitter account of MicroStrategy, the world’s largest corporate owner of Bitcoin. Reportedly, investors have fallen into a trap, resulting in a loss of approximately half a million dollars.

Hackers gained unauthorized access to MicroStrategy’s account and started posting a “phishing” airdrop link, which could put users at risk of financial loss. This was first reported by Twitter user Spreek.

According to the report, a tweet announcing the launch of the Ethereum token $MSTR appeared on MicroStrategy’s official account. Interestingly, the tweet indicated that this token would be backed by the company’s own Bitcoin reserves.

According to cybersecurity analyst ZachXBT, the unauthorized post has already led to a significant loss of $440,000. The “phishing” link convinced users to provide sensitive information or transfer cryptocurrencies to attackers under the guise of a fake airdrop campaign. MicroStrategy has not issued an official statement regarding the attack.

Attacks on Twitter (X) Accounts Resurface

The hacking of official Twitter (X) accounts has become a common target for all hackers, and X continues to be the most popular platform for interaction with the crypto community. So far, hackers seem to be targeting the X accounts of crypto companies, but they have also infiltrated the accounts of some high-profile regulatory agencies and corporate firms.

Last month, just before the expected approval of the spot Bitcoin ETF, the SEC X account tweeted the approval of ETFs. In particular, the X platform confirmed that the SEC account did not have two-factor authentication at the time of the account compromise.

As noted by the Security Team, the breach occurred due to an unidentified party gaining control over a phone number associated with the SEC account, and the institution released a statement confirming its intention to collaborate with local law enforcement in the hack investigation.

MicroStrategy appears to be the latest victim of another major event in 2024. It seems that major players need to enhance security measures across all communication channels to avoid such incidents in the future.