A hacker compromised Vitalik Buterin’s Twitter account, stealing $691,000 by misleading followers with a fake NFT link.
Over the weekend, a hacker infiltrated Vitalik Buterin’s Twitter profile, stealing an alarming sum of $691,000 from his followers. The Ethereum founder’s compromised Twitter account misled followers by posting a sham link that claimed to offer exclusive NFTs.
The incident unfolded on Saturday when Buterin’s Twitter feed displayed an announcement about a new set of NFTs offered by software company Consensys. The hacker utilized this opportunity to post a fraudulent link that seemingly allowed followers to mint the commemorative NFTs. However, the link instead routed the victims’ digital wallets to the hacker, who rapidly drained their funds. Blockchain investigator ZachXBT has verified that the losses escalated from an initial $147,000 to a staggering $691,000 within just one hour.
Alerts regarding the malicious link spread quickly across Crypto Twitter. Dmitriy “Dima” Buterin, Vitalik’s father, was the first to confirm that the Ethereum creator’s account had indeed been compromised. Although the post was swiftly removed, the damage had already occurred. Numerous victims reported losing access to their digital funds.
Public Response and Twitter Security Concerns
Since the disclosure of the hack, Vitalik Buterin has yet to issue a public statement. Interestingly, the hacker seemed to mock the situation by sending a stolen NFT back to Buterin. This event raises the broader issue of online security, especially on social media platforms like Twitter, where many are discussing the need for better security measures.
Binance CEO Changpeng Zhao has been outspoken about Twitter’s lackluster security features. According to him, Twitter needs to enhance its security options, especially when compared to traditional financial accounts. Zhao specifically mentioned the need for features like two-factor authentication (2FA) and a distinct login ID separate from the user handle or email. Currently, 2FA is only available to Twitter Blue subscribers, highlighting a gap in the platform’s security provisions for standard users.
The Debate Over Victim Compensation
The latest breach also sparks a renewed debate on whether or not developers should compensate victims of such hacks. As losses mount due to similar incidents across social media, there is increasing pressure on platform creators and software developers to safeguard their users better and compensate them for their losses.