Hack for Lucy Powell’s X account: a crypto scam

The account X of Lucy Powell, Leader of the House of Commons of the United Kingdom, was compromised this week in a crypto hack that quickly drew attention.

A wave of messages was promoting an alleged cryptocurrency linked to the House of Commons, misleading users with slogans like “Transparency, participation, trust” and even accompanied by the official emblem of the House. 

A perfectly orchestrated crypto hack against Lucy Powell

The attack occurred on Tuesday, when the X profile (formerly Twitter) of Ms Powell, verified and containing references to her position in the leadership of Parliament, began to publish misleading content. 

It was a campaign that promoted a cryptocurrency fictitiously connected to the House of Commons. Specifically described as an innovative digital currency designed to “bring the power of the people into the blockchain”.

The publications, removed shortly after their appearance, included images that simulated a certain official nature, using institutional parliamentary symbols.

According to the investigators, the attempt was part of a scheme known in the cryptocurrency world as “pump and dump”.

To clarify the nature of the scam, Luke Nolan, senior researcher at CoinShares, a company specializing in digital assets, intervened. His comment confirmed the suspicions: the scheme was a classic example of market manipulation:

“The pump and dump is a fraudulent mechanism in which those who create a cryptocurrency artificially inflate its value by attracting investors, only to then sell off the shares in bulk, leaving those who bought with a worthless asset.”

In simple words, the scammers release a virtual coin, buy a significant portion of it at launch, and wait for others to purchase it, captivated by an alleged legitimacy. 

Finally, they resell it quickly, pocketing the profit and generating a collapse in value for all the other investors.

In the specific case of the “Commons Coin” scam, there would have been just 34 total transactions, with an estimated gain of about 225 pounds (300 dollars). 

A modest figure, probably due to the rapid removal of misleading posts.

Illustrious precedents: the fraud is not an isolated case

It is not the first time that a public figure has fallen victim to this type of scam. In January, a similar incident involved Laura Kuenssberg, a well-known political journalist for the BBC. Her X account was also hacked to falsely promote a cryptocurrency attributed to the BBC.

A recurring pattern: exploiting the names and authority of recognized entities or figures to lend credibility to non-existent products.

Situations like these highlight a growing sophistication on the part of cybercriminals in targeting high-visibility targets and exploiting social networks to spread economic scams.

A spokesperson for Lucy Powell confirmed the breach, emphasizing that “Powell’s personal account was hacked this morning”. 

The person added that immediate measures were taken to restore control over the account and “remove the misleading posts”.

An official spokesperson for the House of Commons also intervened, clarifying that “there is no cryptocurrency associated with the House of Commons”. 

The statement reiterated the commitment of the British Parliament to safeguarding cybersecurity. Additionally, it mentioned that guidelines are provided to members and users to securely manage their digital activity.

However, to ensure the security of the parliamentary system and prevent similar violations, no further details on internal cybersecurity measures have been disclosed.

The implications: credibility at risk and alert for users

The episode, although handled swiftly, raises significant questions about the security of verified accounts and the impact that such attacks can have on the credibility of public institutions. 

The fraudulent association between a cryptocurrency and a prestigious institution like the House of Commons undermines public trust and can lead unsuspecting users to make risky investments.

Despite the economic gain of the fraudster in this case being limited, the episode represents a concrete example of how digital propaganda can be used to manipulate public opinion and cause real financial damage.

More and more often, digital platforms are turning into a virtual battleground where public figures are the target of sophisticated strategies. 

Recent events remind users, politicians, and institutions of the importance of constant surveillance on their cybersecurity and training on recognizing online scams.

For the moment, the Powell case closes with limited consequences, but it remains a wake-up call for the future.

In an era in which digital identity is an integral part of political life, the protection of personal credentials is not just a technological measure, but a strategic element for democratic stability.