News View Non-AMP

Crypto Phishing Scams 2024: How Hackers Stole $500K in a Month

Published by
Qadir AK

In his recent research, On chai investigator ZachXbt has revealed an elaborate phishing attack that saw a threat actor make about $500k in the last month after attacking more than 15 high-profile X accounts among them Kick, Cursor, Alex Blania, The Arena, Brett and others. The accounts were used to control meme coin scams by obtaining phishing email credentials.

Phishing Scheme Unveiled

In regards to this heist, the hackers mimicked the official emails of the X team and faked a copyright infringement to make sure the targets immediately rushed to buy the meme coins. People were enticed to go to fake pages where they were redirected to provide new passcodes for accounts, including two-factor authentication (2FA).

After the accounts were compromised, the attacker engaged in meme coin scams, correlating all 15 ATOs through a single shared deployer address. Funds stolen in these scams were then transferred across the Solana-Ethereum blockchain to make it harder for law enforcers to track down the assets.

Security Recommendations

ZachXBT encouraged the users to rush with the account strengthening to minimise such risks. Key recommendations include:

  • Avoid email reuse: Do not use one email address for different services.
  • Implement strong 2FA: Use it instead of the SMS code 2FA for important accounts, resorting to a security key instead.
  • Verify communications: Confirm the authenticity of all emails especially those in the name of official forums.

It’s important that the crypto community stays on the watch and continues fighting to put an end to such activities from scammers. In particular, it aligns well with the current state of security affairs, a solid defense is the only effective means against ever-burgeoning cyber threats.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

H1 2025 Crypto Market Report- Market Trends, Key Metrics, and Institutional Flows

After peaking at $3.7 trillion in Q4 2024, the crypto market entered 2025 with weaker…

July 2, 2025

Senate Passes Donald Trump’s Big Beautiful Bill

The U.S. Senate has passed President Donald Trump’s massive $3.3 trillion spending bill, nicknamed the…

July 2, 2025

XRP Enters Grayscale’s NYSE-Listed Digital Asset ETF, Eyes on Pending 17 XRP ETF Filings

The crypto world woke up to big news today as XRP officially became part of…

July 2, 2025

Best Meme Coin to Buy Right Now as 65% of Shiba Inu (SHIB) Holders Sink into Losses

What’s the next breakout token that can deliver real gains? For Shiba Inu (SHIB) holders,…

July 2, 2025

XRP Lawsuit News: Can The SEC Vote To Continue Appeals Process In Ripple Case?

There’s a lot of confusion floating around the internet about the ongoing Ripple vs SEC…

July 2, 2025

Ripple Price Prediction As SEC Approves First XRP ETF

Big news for the crypto world. The U.S. Securities and Exchange Commission (SEC) has officially…

July 2, 2025