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LIVE UPDATES • Davinci Jeremie Net Worth: The First To Promote Bitcoin Value • Ava Labs COOa’s X Account Is Suspected to be Hacked With False Token Launch Information • MicroStrategy Bitcoin Holdings Tops List of Companies With Over $13.5 Billion of Reverse • Top 10 Tap To Earn Projects That Are Booming In 2024 • DOGS Airdrop Claim Is Now Available for Users • Salary Payments in Cryptocurrency Approved by Dubai Court in Latest Related Case • Spot Solana ETF Filings Have Now Disappeared, Raising Suspicions of Issuer Withdrawal • Bitcoin Fog Founder Strongly Opposes 20-30 Years in Prison • New Franklin Crypto Index ETF Seeks Approval to Expand Trading for Crypto Investors • Turkish Crypto Business License Has Now Increased to 76 Entities

News Ava Labs COOa’s X Account Is Suspected to be Hacked With False Token Launch Information 7 mins ago - Around 2 mins mins to read

Key Points:

Ava Labs COO Luigi D’Onorio DeMeo’s X account was hacked and used to post false token launch information.

The hack is part of a broader trend of crypto-related security breaches, with some incidents linked to insider actions at X.

Similar breaches have been notable, including the hacking of Frax Finance’s account and Microsoft India’s X account.

According to PeckShield Alert, the hackers attacked the X account of Ava Labs COO Luigi D’Onorio DeMeo and utilized it to disseminate fake information about the token launch.

Read more: Doja Cat’s X Account Hacked, Pushing Scam Token $DOJA on Solana!

Ava Labs COO X Account Compromised

There is fear in the crypto community as users are warned not to engage in any link or address shared from the compromised account following a hacking incident on the Ava Labs COO’s X account.

It’s part of a concerning trend in crypto security breaches, and some point to insider actions at X. For instance, toward the end of May, crypto trader GCR reported his X account had been compromised via a bribe, which resulted in a fraudulent ORDI pump-and-dump scheme. Blockchain investigator ZachXBT later posited that the developers behind the Solana-based memecoin CAT might have been involved.

High-Profile Hacks Drive Home the Need for Better Social Media Security

On another front, Frax Finance founder Sam Kazemian has alleged an insider at X was behind the hack of the project’s account that caused the loss of access to the protocol powering the FRAX USD-pegged decentralized stablecoin in early June.

Also, in June, Microsoft India’s X account, which is officially verified, was hacked to post Roaring Kitty videos with links to purchase fake GameStop GME cryptos. It could have been because of a SIM-swapping attack, whereby scammers profited from the weakness of two-factor authentication.

Ava Labs COO Avalanche hack Luigi D'Onorio DeMeo X

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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Ava Labs COOa’s X Account Is Suspected to be Hacked With False Token Launch Information