Hacked Microstrategy account on social media platform X results in $440,000 in losses

Hackers stole more than $400,000 from unsuspecting users after posting phishing messages to MicroStrategy’s compromised X accounts.

The X account of an investment firm co-founded by Bitcoin powerhouse Michael Saylor was hacked on February 26. Hackers posted fake messages about $MSTR token airdrop.

In the end there was something second best

(If it’s not obvious, this is a hacked account lol) pic.twitter.com/cdLqbqiiCO

— Speakaway (@speakaway) February 26, 2024

Users who followed the malicious link were redirected to a fake MicroStrategy website to claim “$MSTR tokens.” I was then prompted to connect my cryptocurrency wallet and authorize it.

According to blockchain detective ZachXBT, more than $440,000 was stolen from the campaign.

0xe7645b8672b28a17dd0d650a5bf89539c9aa28da

About $440,000 has been stolen so far.

— ZachXBT (@zachxbt) February 26, 2024

MicroStrategy appears to have regained control of the X account and deleted the fake messages.

One user loses over $420,000 after MicroStrategy attack

One victim reportedly lost more than $420,000 as a result of the hack and had multiple altcoins stolen from his wallet address within minutes of posting a phishing message.

In one of the transactions, the attackers transferred stolen tokens to a wallet address controlled by a hacker group known as PinkDrainer.

Someone lost $424,786 worth of money. $wBAI, $wPOKTand $CHEX About 5 minutes ago in a phishing scam. pic.twitter.com/GEJvHEXuM7

— Scam Sniffer | Web3 Scam Prevention (@realScamSniffer) February 26, 2024

According to Etherscan, the hacker’s wallet held $192,000 worth of Ether at 6:23 a.m. ET.

Phishing campaigns are common in the cryptocurrency industry. However, some crypto users on said This particular phishing attack was very clear as Bitcoin Bull Michael is highly unlikely to ever launch a crypto token on Ethereum.

MicroStrategy holds $9 billion worth of Bitcoin.

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