The official X account of BNB Chain has been compromised by hackers to promote a phishing scam.
Binance co-founder and former CEO Changpeng Zhao (CZ) in a tweet on 1 October warned that the hacker posted links to a phishing website asking followers to connect their wallets.
According to CZ, X has already been notified of the compromised account and is working to resolve the issue.
Call for caution
Phishing attacks are attacks in which the hacker shares links that appear legitimate and lures the targeted victim to click on them and follow the instructions to voluntarily give away information that could lead to their losses.
A phishing attack may steal information ranging from account numbers and card information to recovery seed phrases or private keys of crypto wallets.
In this case, the hacker prompted victims to connect their Wallet Connect accounts, which CZ warns should not be done.
To avoid such attacks, it is important to painstakingly verify domains before taking any action, even from legitimate websites.
A worrying trend
Hackers are on a rampage to steal crypto assets or trick unsuspecting and mostly new investors into giving their money away.
This event isn’t isolated but is rather a reflection of the broader industry trend in which hackers target and hack public accounts with large followings to push their scams and defraud as many people as possible.
In the past, hackers have targeted the account of Saudi’s crown prince to promote fake memecoins, but was quickly discovered and suspended fortunately.
Similarly, the official account of the president of Paraguay was also hacked to promote Bitcoin in June this year, among many other instances of attacks on public figures and celebrities.
Interestingly, such hacks are quite common in bull markets such as the one we are in, especially as we enter Q4, a time of the year when crypto assets are predicted to see significant growth.
What do you think?
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