MicroStrategy, known as the world’s largest corporate Bitcoin holder, recently experienced a cyberattack on its X account. Hackers took advantage of this breach to promote a fake “MSTR” token, resulting in the theft of nearly $500,000 in cryptocurrency. Despite MicroStrategy’s prompt removal of the deceptive post, a copy was preserved by a notable crypto personality known as Spreek.

there was a second best after all (hacked acc if not obvious lol) pic.twitter.com/cdLqbqiiCO — Spreek (@spreekaway) February 26, 2024

According to screenshots, the hackers attempted to trick users into believing that MicroStrategy was launching a new Ethereum-based token called MSTR. By clicking on the provided link and entering their credentials, users unknowingly granted the scammers access to steal “free MSTR.”

0xe7645b8672b28a17dd0d650a5bf89539c9aa28da ~$440K stolen from the compromise so far — ZachXBT (@zachxbt) February 26, 2024

An investigation led by blockchain expert ZachXBT revealed that the scammers may have already obtained over $440,000 in crypto through the breach. Transaction records associated with the hacker’s address suggest that a significant portion of the stolen funds has been laundered, with transfers made to various exchange platforms like KyberSwap, ParaSwap, and POKT Network. As of now, MicroStrategy has not released any official statements regarding the incident.

This incident comes shortly after MicroStrategy founder Michael Saylor reiterated his commitment to holding the company’s substantial Bitcoin reserves, which currently exceed 190,000 BTC valued at over $9.7 billion.

For more news and updates, continue exploring Global Crypto News.

Post Views: 3