Litecoin confirms X account hack amid rising social media exploits

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Key Takeaways

- Social media account hacks of cryptocurrency companies and influencers have become a common method for promoting fake tokens.

- The Litecoin account on X became the latest victim of hackers on January 11.

- Blockchain data suggests that this time, the hackers failed to make significant profits from unsuspecting users.

- Blockchain researchers report a well-coordinated and ongoing operation generating substantial illicit gains for perpetrators.

- To avoid falling victim, users are advised to exercise caution and adhere to security measures.

Account compromises continue post-new year

The crypto community still remembers the high-profile December hacks of accounts belonging to companies and influencers, aimed at promoting fake tokens. Notable victims included rapper Drake, U.S. government committee co-chair Vivek Ramaswamy (DOGE Efficiency), Cardano Foundation founder Charles Hoskinson, and other prominent crypto figures.

In some cases, hackers managed to make significant profits by posting announcements promoting fake tokens. For instance, fans of Canadian rapper Drake purchased $5 million worth of the ANITA token, named after the singer's tour.

Meanwhile, a hacked X post by Vivek Ramaswamy, claiming a partnership between the Trump administration and the creators of the USUAL stablecoin, temporarily boosted its market capitalization by nearly 40% to $720 million.

The latest hacking attempt targeted Litecoin, one of the oldest Bitcoin forks.

Details of the Litecoin hack

On Saturday, X users noted an unusual post from the official Litecoin account, containing a contract address for LTC on the pump.fun platform and claiming that LTC was now available on the Solana blockchain.

View post on X Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

The post turned out to be fake and was quickly deleted. However, according to DEX Screener, the market capitalization of the fraudulent token briefly surged almost 8-fold to $27,000.

Dexscreener data on LTC/Solana token trading on January 11, 2025

Hacking as a systematic operation

The Litecoin account hack follows a series of account compromises from last year, which are likely to continue in the new year. Blockchain researcher ZachXBT reported that between late November and December, a single hacker made around $500,000 through meme coin scams, using over 15 hacked X accounts, including Kick, Cursor, Alex Blania, The Arena, and Brett.

ZachXBT also highlighted a common phishing method where hackers send emails disguised as copyright violation notices from X, tricking users into visiting fraudulent sites to reset two-factor authentication and passwords.

Litecoin’s response to the hack

The official Litecoin account reacted to the breach, posting several updates, one of which referred to Solana as a “pimple on the butt of cryptocurrency.” Litecoin acknowledged that "the Litecoin X account was briefly compromised, and unauthorized posts were published. These posts were visible for only a few seconds before being removed."

View post on X Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

The developers explained they “immediately identified the delegated account that had been compromised and removed it,” while apologizing for the confusion caused.

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