EigenLayer X Account Hacked, But EIGEN Price Holds Momentum

EigenLayer has again gained notable attention from investors, as recent reports claimed that the project’s social media account was compromised. The reports showed that the official X account of the project is posting phishing scams while warning investors to stay away from clicking the links. However, despite that, EIGEN price was up over 10% today, amid recent support from major crypto exchanges and other key developments.

EigenLayer Posts Phishing Links As X Account Gets Compromised

According to recent reports, the EigenLayer X account is hacked and posting phishing links, targeting the users. The leading on-chain analytics firm, PeckShieldAlert has issued a stark warning, urging investors to avoid clicking on the fraudulent links being shared. The warning from PeckShieldAlert reads:

EigenLayer X account has been compromised. Do NOT click the #phishing link eligible-eigenfoundation[.]org.

Notably, CoinGape also cross-checked the issue and found that the project’s official X handle has recently posted a link. Sharing the link, it wrote:

We’re happy to announce that eligible participants for Season 2 have been reallocated EIGEN tokens!

Now that we are transitioning into Programmatic incentives, the remaining EIGEN supply for Season 2 has been redistributed.

Get started:

Meanwhile, this breach follows a growing trend of social media hacks, particularly on platforms like X and Discord. Many blockchain projects have fallen victim to these attacks in recent months, as hackers exploit security loopholes to promote malicious content.

Notably, the US SEC’s X account was also compromised earlier this year, posting a fake post on Bitcoin ETF approval. However, the FBI has recently arrested the hacker, who was behind the fake post.

Amid this, this latest compromised account of the project underscores the ongoing vulnerability that crypto projects face when using these platforms to engage with their communities. However, despite the initial concerns, the investors appear to be remaining confident in the project.

The resilience could be due to the security warnings that quickly came, helping users avoid falling into the phishing trap. In addition, the recent positive developments surrounding the project also appear to boost the market sentiment towards crypto.

EIGEN Price Soars 10% Despite Recent Hack

Despite the recent EigenLayer X account hack, EIGEN price today gained nearly 10% and exchanged hands at $3.48. Its trading volume soared 39% to $141.52 million, and the crypto has touched a high of $3.53 in the last 24 hours.

Notably, the crypto has gained notable attention since top crypto exchanges like Binance and Coinbase announced the listing of the token in September. In addition, Binance has recently expanded its offering for EIGEN, further boosting market optimism.

The exchange said that it has added the token to its loanable assets and VIP loans, fueling market optimism. Besides, a recent EIGEN price prediction hints that the crypto could rally to $5 if certain conditions are met.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.