STAY AWAY: Compound Finance’s X Social Media Page Has Been HACKED

December 29, 2023 8:07 pm Comments

On Friday, Compound Finance’s X social media page was reportedly hacked.

Users are warning that the compromised social media account is now posting malicious links to fake airdrops in an attempt to scam anyone who clicks on the links posted from Compound’s social media account.

The links reportedly connect to a well-known phishing site. Make sure that you do not interact with their page, in any way, until there is hard confirmation that the issue has been resolved. Do not simply trust a post from the compromised social media account telling you the issue has been solved.

This latest incident represents the most recent hack of a popular crypto site or entity, and we have seen an uptick in scams this holiday season. Remember to stay alert, stay vigilant, and if it sounds too good to be true then it is!

Multiple security firms and individuals within the crypto community raised the alarm and issued warnings.

Coin Telegraph provided more details on the hack:

According to Scam Sniffer’s post, the advertised site is a “Pink Drainer scam website,” implying that it is a phishing site that uses the Pink Drainer software to steal users’ crypto. The post also states that blockchain investigator ZachXBT has traced funds stolen by the site and laundered through the eXch exchange.

The Independent reports on the widespread crypto scams plaguing the X social media platform:

Many of the scam ads use the likeness of Elon Musk, who bought Twitter for $44 billion last year, to promote fake cryptocurrency giveaways.

The scam ads work by promoting a fake pre-sale of “X Token”, which fraudulently offers early investors large profits if they buy the cryptocurrency before it officially launches on exchanges.

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