A significant breach has occurred in the cryptocurrency sphere, with a hacker reportedly making off with approximately $500,000 over the past month through phishing scams targeting compromised accounts. Analysis from a blockchain investigator indicated that the attacker operated across 15 affected accounts by masquerading as the platform’s support team, sending out fake copyright infringement notices designed to instill panic among users.
This deceptive tactic led users to phishing sites, where they inadvertently revealed their account credentials, including passwords and two-factor authentication (2FA) details. The attacker subsequently took control of these accounts, predominantly those associated with cryptocurrency, and utilized them to promote memecoin scams, resulting in a substantial financial gain.
The compromised accounts included various crypto-focused handles, and all were linked through a handful of deployer addresses associated with the scams. To obscure the path of the illicit funds, the perpetrator maneuvered the stolen assets between the Solana and Ethereum blockchain networks.
Users of the platform are urged to adopt greater security measures. This includes minimizing the reuse of email addresses across different services and enabling 2FA for critical accounts to bolster their defenses against such attacks. The incident marks a troubling pattern, with the first known compromise occurring on November 26 and the most recent case reported shortly before Christmas.
The scam tactic, which often featured phrases like “Incoming Transmission,” drew significant attention due to the popularity of the accounts involved. Many had amassed large followings, predominantly composed of memecoin enthusiasts seeking investment opportunities. Furthermore, the environment for crypto scams has been challenging, with an apparent decline in phishing losses noted in November, though total thefts for the year persist at high levels. Recent data revealed that around $2.2 billion was stolen from various incidents in 2024, highlighting the continued vulnerability within the crypto space.
