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But we saved everything 🙂.
Kaito AI founder’s social media accounts hacked for short selling profits
The social media accounts of Kaito AI, an AI-driven platform that collects cryptocurrency data for market analysis, and its founder, Yu Hu, were hacked in an attempt to profit from short positions.
On March 15, unknown hackers compromised the X (formerly Twitter) accounts of crypto platform Kaito AI and its founder, Yu Hu. This incident highlights the growing sophistication of fraud techniques using social engineering and cybersecurity breaches that continue to plague the crypto industry.
Unlike classic scams involving fake token promotions, this latest attack, according to DeFi Warhol, involved hackers opening short positions on KAITO tokens. They then used the hacked accounts to post fake messages claiming Kaito AI's wallets had been compromised and user funds were at risk, aiming to create panic selling. This price drop would allow the attackers to profit from their short positions.
Exploits are becoming more sophisticated
After Yu Hu discovered the fake posts and regained control of his account by resetting his passwords, he reassured the community.
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"Nothing related to KAITO was compromised—no wallets or token supply. My X account and the Kaito account were hacked, and the hacker posted false tweets," Yu Hu wrote, emphasizing that the platform maintains strong security measures.
Meanwhile, on the day of the hack, the KAITO token price fluctuated between $1.56 and $1.34, a difference of over 16%. It appears that some traders fell for the false messages and rushed to sell their tokens, accelerating KAITO’s rapid price decline.
Later, Yu Hu wrote that they learned that the hacker had earned about $1 million on a short bet on Hyperliquid.
As we wrote, according to DappRadar's latest report, NFT trading volume has dropped by 63% between December and February—from $1.36 billion to $997 million in January, and further down to $498 million in February. However, some collections remain active.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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