News - Hacker attacks MicroStrategy on X

By Mike Hesp

Hacker attacks MicroStrategy on X

Ethereum (ETH)
Scams, crime and fraud

An attacker hacked MicroStrategy's X account. Through phishing, he stole $440,000 from fans of Saylor. How did this happen?

A hacker attacked MicroStrategy's X account to and published links to a fake airdrop of a "$MSTR" token.

As a result, the hacker caused damages of about $440,000, based on a study by on-chain researcher ZachXBT. This published the suspected wallet address of the criminal attacker.

Meanwhile, MicroStrategy seems to have regained control of its X account, as the Associated post has been removed. The latest post, dated Feb. 21, advertises the company's new AI integrations.

The links from the fake Ethereum airdrop led to a fake MicroStrategy website, where users could then link their wallet and claim the fake "$MSTR" airdrop.

If a user accepted the access rights and logged in with their Web3 wallet for the alleged airdrop, the hacker could access the user's tokens and steal their money.

Given the dismissive attitude of Michael Saylor versus other cryptocurrencies, the phishing scam was quite transparent. In a interview Saylor said in this regard that the SEC should crack down on altcoins as "unregistered securities."

At the time of writing, it had address of the suspected attacker still in possession of 62.97 ETH, worth about $196,000. MicroStrategy itself has not yet commented on the incident.

MicroStrategy, however, is sticking to its Bitcoin buying strategy. As Reuters reported today, Feb. 26, the company bought about 3,000 BTC for $155.4 million between Feb. 15 and Feb. 25.

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