MSTR Buys BTC & Acc gets hacked by ETH Scam (Patreon)

JUST IN: MicroStrategy buys an additional 3,000 Bitcoin ($155 million).  We will update ARB Cloud and ARB MODEL shortly

MicroStrategy’s X Account Hacked in ETH Token Phishing Scam, Over $440k Drained

Key Takeaways

• Clicking the link redirects users to a fake MicroStrategy webpage, where they’re prompted to connect a wallet and claim the fake MSTR airdrop.
• As per blockchain analyst ZachXBT, losses from the scam have surpassed $440,000.

On Monday, February 26, MicroStrategy, a prominent business intelligence firm recognized for its substantial holdings in Bitcoin, found itself embroiled in a cybersecurity incident.

The company’s official social media account, known as X, was compromised by hackers, who utilized it to propagate a deceptive scheme involving a fake Ethereum-based token airdrop. With a sizable audience of over 196,000 followers, the X account became a conduit for fraudulent activity.

The hackers, whose identities remain unknown, capitalized on MicroStrategy’s stature within the cryptocurrency realm, leveraging its reputation as the largest corporate holder of Bitcoin. They introduced a spurious Ethereum token named ‘MSTR,’ falsely purporting it to be backed by MicroStrategy’s extensive Bitcoin reserves.