The crypto world is abuzz with the recent hacking of VeChain’s (VET) official Twitter account, which has been exploited to post a fraudulent airdrop. The hackers promised a 2x return for users sending VET to a specified wallet, a classic scam to deceive investors.
The incident caused immediate concern among the crypto community, with many rushing to the platform to warn others. The extent of the damage or loss of funds is currently unknown.
Following the hack, VeChain’s price experienced a brief drop of 2.52%, falling to $0.02910 before partially recovering to $0.02936. This fluctuation reflects the market’s reaction to the security breach.
The frequency of hacking incidents in the crypto space is on the rise, with a recent hack on Bungee Exchange leading to a theft of $3.3 million, which was then converted to Ethereum by the hackers.
These events highlight the urgent need for enhanced security measures in the crypto industry, especially as a potential bull market approaches. The community awaits VeChain’s response and the assessment of losses incurred.