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ZachXBT Exposes $500K Scheme Targeting Solana Meme Coin Investors on X
In a stunning revelation, blockchain investigator ZachXBT has exposed a massive phishing operation that has resulted in an estimated loss of $500,000. The scheme targeted investors in Solana-based meme coins and exploited the trust and large audiences of high-profile crypto-focused accounts.
The investigation revealed that the attackers used fake copyright infringement notices to trick users into visiting phishing websites and resetting their two-factor authentication (2FA) or passwords. These compromised accounts were then used to push scams targeting meme coin enthusiasts, urging them to invest in fraudulent Solana tokens.
According to ZachXBT’s findings, the operation involved impersonating the X team and leveraging phishing websites to gain unauthorized access to high-profile accounts. The attackers utilized six deployer addresses for the scams, which were linked together through a single contract address.
The investigation uncovered that prominent accounts on X, including Kick, Cursor, The Arena, Brett, and Alex Blania, had been compromised in this scheme. The first reported incident occurred on November 26, involving RuneMine, while the most recent was Kick on December 24.
This is not an isolated incident but rather part of a broader trend of social media platform exploitation by threat actors. X has become increasingly popular among crypto projects and creators, making it a lucrative target for hackers.
ZachXBT’s investigation further exposed that this scheme exploited the trust and large audiences of high-profile accounts, netting the attackers an estimated $500,000. The blockchain detective advised users to increase their account security by limiting the reuse of email addresses across services and using security keys for 2FA whenever possible.
The incident serves as a stark reminder of the importance of vigilance in the crypto space. It is essential that users are aware of these tactics and take necessary measures to protect themselves from such schemes.
Source: cryptopotato.com
