Kaito AI and Founder Yu Hu's X Social Media Accounts Hacked
In a shocking turn of events, Kaito AI, an artificial intelligence-powered platform that aggregates crypto data to provide market analysis for users, and its founder Yu Hu, were the victims of an X social media hack on March 15. This recent incident represents a more sophisticated attack that deviates from the classic scam of promoting fake tokens on social media.
The hackers took advantage of Kaito AI's social media presence to spread false information about the company and its token wallet. In several now-deleted posts, they claimed that the Kaito wallets were compromised and advised users that their funds were not safe. The attackers' ultimate goal was to create a panic among Kaito users, which would have led to a sell-off of the KAITO tokens on the market.
According to DeFi Warhol, the hackers opened up a short position on KAITO tokens before posting the messages in an attempt to influence user behavior. However, the Kaito AI team quickly regained access to their social media accounts and reassured users that their token wallets were not compromised in the social media exploit.
"We had high-standard security measures in place to prevent [the hack] — so it seems to be similar or the same as other recent Twitter account hacks," said the Kaito AI team. "It's a reminder for us all to stay vigilant and take extra precautions to protect our online presence."
A Growing List of Crypto Scams
This recent exploit is just the latest in a growing list of social media hacks, social engineering scams, and cybersecurity incidents plaguing the crypto industry. The Pump.fun X account was hacked on February 26 by a threat actor promoting several fake tokens, including a fraudulent governance token for the fair launch platform called "Pump."
According to on-chain sleuth ZackXBT, the Pump.fun incident was directly connected to the Jupiter DAO account hack and the DogWifCoin X account compromise. The Alberta Securities Commission, a Canadian financial regulator, also warned the public about a crypto scam that used fake news articles and fake endorsements featuring the likeness of Canadian politicians to lure unsuspecting victims into investing in the project.
New Scam from Lazarus Hacker Group
Crypto executives are sounding the alarm on a new scam from the state-sponsored Lazarus hacker group, where the hackers pose as venture capitalists in a Zoom meeting. Once the target is in the meeting room, the hackers would claim they were experiencing audio-visual issues and redirect the victim to a malicious chat room where the user is encouraged to download a patch.
The patch contains malicious software designed to steal crypto private keys and other sensitive information from the victim's computer. This latest scam highlights the ever-evolving nature of cyber threats in the cryptocurrency space, emphasizing the importance of staying vigilant and taking proactive measures to protect oneself online.