Changpeng Zhao’s educational project Academy Giggle hit by cyberattack

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The educational initiative by Binance founder Changpeng Zhao, Academy Giggle, fell victim to a cyberattack that resulted in the hacking of its official account on X (formerly Twitter) and the dissemination of phishing links and false information.

Hackers sent messages announcing the appointment of a new CEO for the academy in an attempt to gain access to subscribers’ accounts.

On November 16, Zhao confirmed the breach of the Academy Giggle account on X, stating that the announcement of a leadership change was false.

"Woke up to ‘Giggle Academy X account hacked.’ Working on its recovery. Always use common sense when consuming content from anywhere in the world," CZ wrote to his followers on X.

Academy Giggle offers free online courses on core school subjects and additional topics like emotional intelligence, finance, and blockchain. The organization focuses on supporting education for children and teenagers from underprivileged communities.

Phishing: a growing threat

The academy account hack highlights the increasing phishing threat within the blockchain industry.

According to blockchain security firm Certik, phishing-related losses have surpassed $800 million this year alone.

Certik data reveals 247 phishing incidents recorded in 2024, with the highest number of attacks—82—occurring in Q1, followed by 67 in Q2 and 65 in Q3.

However, the largest financial losses were observed in Q2 and Q3, amounting to $433 million and $343 million, respectively, compared to $67 million in Q1.

Certik noted that hackers are increasingly employing advanced tools, with wallet-draining methods becoming more sophisticated.

Modern phishing campaigns incorporate additional draining tools like Drueder Angel and Pink Drinder. The recent acquisition of Angel Drainer by Anferno Drainer underscores the growing prevalence of such tools in phishing schemes.

Another emerging threat involves fake wallet prompts designed to mimic legitimate ones. These prompts send tokens to victims in hopes of manipulating transaction histories. When users interact with familiar-looking addresses, they risk accidentally transacting with counterfeit ones.

Post-Binance, CZ has committed to developing projects like Giggle Academy, an educational platform, and is exploring investments across blockchain, AI, and biotech, aiming for sustainable, long-term impact. He is also writing a book detailing his experiences, now two-thirds complete.

Despite being Binance’s largest shareholder, CZ has no plans to return to a leadership role, expressing satisfaction that Binance continues to thrive independently, which he views as “every founder’s dream.”

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