Recently, the Aptos Foundation faced a significant security breach on their official Twitter account, putting their community at risk. According to a cautionary tweet from Aptos Labs, the hackers successfully seized control of the @Aptos_Network account, using it to disseminate misleading information regarding a fraudulent APT airdrop.
The perpetrators published a deceptive tweet claiming that Aptos was launching a Season 2 airdrop, purportedly offering free tokens. This tweet directed unsuspecting users to a counterfeit website that asked them to connect their digital wallets, which could lead to financial loss.
We’ve received official communication from Aptos Foundation that @Aptos_Network has indeed been compromised.
The latest tweet regarding an $APT airdrop is fraudulent.
Please DO NOT engage with that tweet or the link provided.
— Aptos Labs (@AptosLabs) July 6, 2023
Urgent Security Alert: Aptos Foundation’s Twitter Account Hacked
In response to this alarming incident, Aptos Labs, the organization responsible for the Aptos Network, took immediate action. The company confirmed the hack of the Aptos Network Twitter account. They communicated via a tweet that they are collaborating with the Aptos Foundation to restore security and keep the community informed about ongoing updates.
The tweet indicated, “We are working with Aptos Foundation to update the community as their Twitter account is secured.” Notably, it has been suggested that the Twitter account of Mo Shaikh, CEO of Aptos, may have also been compromised during this hacking attempt.
As of now, it appears that the Aptos Network’s account has been successfully recovered, though the extent of the damage remains unclear. The number of individuals affected and the total financial losses incurred due to the scam have yet to be determined, raising concerns about the security measures in place.
We’re back! The @Aptos_Network Twitter account has been recovered.
Thank you to our partners at @AptosLabs for their alertness and rapid communication with the Aptos community during this challenging time. https://t.co/6OZJT92oH6
— Aptos (@Aptos_Network) July 7, 2023
APT price trending at $7.11 | Source: APTUSDT on TradingView.com
The Rise of Twitter Hacks: An Ominous Trend in the Cryptocurrency Sector
The recent hacking incident involving the Aptos Foundation’s Twitter account serves as a stark reminder of the importance of vigilance among crypto investors. These types of attacks have become increasingly prevalent, with Twitter accounts of various crypto projects and prominent figures being targeted frequently. Unscrupulous individuals are exploiting the fear of missing out (FOMO) among investors eager for coins, airdrops, and NFT opportunities, leading to significant financial losses.
For instance, just last month, the Twitter account of OpenAI’s CTO, Mira Murati, was hacked to promote a fictitious $OPENAI crypto airdrop. This latest breach appears to be part of a troubling trend affecting the Aptos Foundation.
The Aptos Network is known for its monthly token releases, with new tokens scheduled to unlock on the 12th of each month. Investors are currently anticipating the release of 4.54 million APT tokens on July 12. Given the current market price of APT at around $7.18, this equates to a total unlock value of approximately $32.62 million.
However, the impact of this release on the value of APT remains uncertain, as historical trends show that prices can fluctuate significantly following previous token unlocks. Currently, APT’s price is hovering at $7.14, reflecting a slight decline of 0.37% over the past 24 hours. Over the course of the week, it has experienced losses of 2.08%. With a market capitalization of around $1.5 billion, APT is currently ranked as the 34th-largest cryptocurrency in the market.
Featured image from Asia Crypto Today, chart from TradingView.com
