Hackers briefly gained access to Litecoin’s
In a new thread, the decentralized P2P network developer warned investors about the breach, but the team immediately regained access to Litecoin’s official X account.
“Today, Litecoin’s X account was briefly hacked and unauthorized posts were made. It was only active for a few seconds before being deleted. We are still investigating the issue, but we immediately discovered and deleted the compromised delegation account. “We apologize for any confusion.”
Screenshots of the incident show a scammer using Litecoin’s X account to post a message falsely claiming that LTC was “currently on Solana.” Malicious actors added a link directing users to a site that appeared to be a rug pull scam.
According to data from blockchain tracker DEX Screener, the fraudulent token called LTC/SOL on Raydium saw its price drop significantly on January 11, when hackers were promoting the coin from Litecoin’s X account.
News of the breach had little impact on the price of LTC, as at the time of this writing it is trading at $104.10, up 1.4%.
Earlier this month, it was reported that losses from cryptocurrency-related hacks will surge in 2024, reaching $3.01 billion, up 15% from the previous year’s total.
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Featured image: Shutterstock/Elnur/Natalia Siiatovskaia