Scammers have hijacked PancakeSwap’s official Chinese X account to promote a fake crypto coin with phishing links.
PancakeSwap in a tweet on 8 October warned that the account had been compromised and should be considered as such, adding that no communication coming from it should be taken seriously.
The team further cautioned against clicking any links promoted by the attackers to avoid falling victim to their scams.
Account not yet recovered
The account was hijacked in the early hours of Wednesday, and PancakeSwap immediately sounded an alarm on its official English account.
According to an X user, the hackers launched a token which they were promoting through the hacked account.
Though there are no details about who the attackers may be, they are most likely of Chinese origin, since only people from the region could read or write messages on the account which doesn’t offer an option to translate its content.
At the time of reporting the incident, the account is yet to be recovered from the malicious actors since PancakeSwap is yet to confirm recovery even though it is actively working with X to resolve the issue.
There is very little activity on the account currently, with the last post on 8 October when translated means “Believe BNB.”
Responding to the warning, an X user jokingly recommended “cold storage” for social accounts, which is a way of saying there’s a need for a more secure way of being on social media, just like cold storage for crypto assets.
CAKE token doing just fine
The hack seems to have had minimal impact on CAKE, the native token of the PancakeSwap platform.
This is probably because there are fewer followers on the Chinese account (Just over 11,000) compared to the English handle with over 100,000 followers.
CAKE still boasts an impressive 13% daily gain, making it one of the best performing crypto assets among the top 100.
What do you think?
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