In the last 24 hours, the altcoin world has been shaken by hacking attacks, price manipulations and scandals. The hijacking of accounts of popular figures, losses for investors and fluctuations in token prices form the outlines of this chaotic event. Here are the details…
Danger of hacking on the accounts of celebrities such as Caitlyn Jenner and Rich the Kid
Popular television star Caitlyn Jenner and rapper Rich the Kid came to the fore with an event that shook the crypto world by sharing meme coins from their X accounts on Sunday, May 26. Jenner’s account: “Let’s win together! He shared the meme coin with the message “Send me some of your favorite memecoins here.” A similar meme coin was shared from Rich the Kid’s account.
However, after these posts, Jenner’s account shared posts stating that there was no hacking attack, and soon after, Jenner shared a video in which she said, “A lot happened today and yes, my crypto account is real,” which created confusion. Rich the Kid’s post was deleted shortly after. Blockchain researcher CodeXBT stated that the source of Jenner and Rich the Kid’s posts was a cryptocurrency wallet. Thus, it strengthened the possibility of hacking. CodeXBT expressed its concerns by saying, “I wouldn’t trust the tweets made today when everyone is getting hacked.”
Altcoin manipulation occurred with the hacking of GiganticRebirth account
On the other hand, the account of GiganticRebirth, a cryptocurrency investor known for making profits from serious transactions, was also cyber-attacked on May 26. The attacker took over GiganticRebirth’s account and shared posts about Ordi (ORDI) and LUNA2, and as a result of these posts, there were sudden increases in altcoin prices. ORDI price rose 15% in a short time. LUNA2, on the other hand, did not experience as much activity as ORDI.
It was also revealed that the attacker opened a futures position specifically for ORDI on the cryptocurrency exchanges Binance and OKX, minutes before making the posts. GiganticRebirth made a statement after the attack, claiming that the attacker took over the account by bribing one of X’s employees. GiganticRebirth said:
Two months ago, it was reported that someone affiliated with Twitter had bribed me to gain access to my account, and security was subsequently increased. However, if employee X gets paid for admin access, security cannot be ensured. Elon Musk, fix your operation.
Friend.tech founder’s statement reduced the token price!
Finally, Racer, the founder of Web3 social media platform Friend.tech (FRIEND), announced that he will leave the Ethereum Layer-2 project called Base, founded by Coinbase. “If you can find a way to remove friendtech from Base without causing any major problems for users, and if we decide it will work, we will pay you $200,000,” Racer said. These statements by Racer caused a drop of over 20% in the price of the FRIEND token. Jesse Polak, who manages Coinbase’s work on Base, said: “I would be sad if the Friendtech team decided to leave Base, but I would respect whatever path they choose.”
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