Crypto Venture Capital Firm’s Twitter Account Compromised in Attempted Token Scam August 9, 2023 August 9, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsAugust 9, 2023 by Kelly Cromley

Crypto Venture Capital Firm’s Twitter Account Compromised in Attempted Token Scam

n a concerning incident, the official Twitter account of Blockchain Capital, a prominent venture capital firm with a focus on the crypto space, appears to have fallen victim to scammers seeking to exploit users with a deceptive token claim scheme.

On August 9th, the Twitter account associated with Blockchain Capital made a series of posts that promised a giveaway of “BCAP” tokens. These posts directed unsuspecting users to a website that closely mimicked the visual design of the VC firm’s authentic website. It was a clever ploy to deceive users into believing the legitimacy of the offer.

Phishing Scammers Target Blockchain Capital’s Twitter Handle, Prompting Caution Among Crypto Community

It was not long before Blockchain Capital regained control of their compromised account and promptly removed the fraudulent posts. The deceptive website, subtly differing from the original URL with an added “n,” aimed to trick visitors into connecting their cryptocurrency wallets. This is a common tactic utilized by phishing scammers, designed to manipulate users into unknowingly participating in malicious transactions that lead to the depletion of their funds.

Remarkably, the scammers demonstrated their cunning by disabling the commenting feature on the fraudulent posts. This strategic move was aimed at suppressing any user warnings that could potentially thwart their scamming efforts. Nevertheless, vigilant members of the Twitter community managed to share alerts about the scam, highlighting the collaborative nature of the crypto community in protecting one another from such threats.

This incident involving Blockchain Capital’s compromised Twitter account follows closely after a recent advisory issued by the Federal Bureau of Investigation (FBI). The warning emphasized the escalating trend of cybercriminals targeting social media accounts belonging to well-known personalities in the crypto sector. The objective of these attacks is to steer unsuspecting users toward malicious imitation websites.

Another instance of this alarming trend emerged when Jeremy Hogan, a prominent lawyer advocating for the digital asset XRP, reported a similar compromise of his Twitter account. Over a span of approximately four days, malevolent actors flooded Hogan’s account with fraudulent posts containing links to a fabricated XRP giveaway, aiming to mislead and deceive innocent users.

In a separate occurrence, Binance CEO Changpeng “CZ” Zhao, who commands a substantial following of 8.5 million users on Twitter, took to the platform to caution against the escalating wave of phishing attacks. Zhao’s advisory stressed the vulnerabilities associated with text message-based two-factor authentication and encouraged the adoption of more secure hardware devices as a safeguard against such cyber threats.

As the crypto community navigates the evolving landscape of digital assets, these instances of compromised social media accounts and fraudulent schemes underscore the critical importance of remaining vigilant and informed. While malicious actors continue to devise sophisticated tactics, it is the collective responsibility of both individuals and organizations to stay informed, exercise caution, and adopt robust security measures to safeguard their assets and identities in the digital realm.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.