MicroStrategy, a business intelligence firm, has suffered a significant hacking attack resulting in losses exceeding $440,000. The hackers took advantage of MicroStrategy’s X account and posted deceptive links promoting a fraudulent airdrop of an alleged “official” Ethereum-based MSTR token.
The breach occurred through a phishing scam that lured users into clicking on malicious links, redirecting them to a fake MicroStrategy webpage. Once there, users were prompted to connect their Web3 wallets to claim the fake $MSTR airdrop, unknowingly giving attackers permission to drain tokens from their wallets.
Independent investigator ZachXBT and anti-scam platform Scam Sniffer collaborated to uncover the extent of the losses. According to their findings, the scam has already resulted in losses of over $440,000. Notably, one user suffered a substantial loss of $424,786 to the phishing scam, just minutes after the first malicious link appeared on MicroStrategy’s X account at 12:43 am UTC.
The victim transferred $134,000 worth of wBAI, $122,000 worth of CHEX, and $45,000 worth of wPOKT to the attacker’s wallet address. Shockingly, the two transfers were automatically redirected to a second wallet associated with the notorious hacking group PinkDrainer. Currently, the MicroStrategy attacker’s wallet holds a total of $329,000 worth of tokens, as reported by DeBank.
Following the news of the MicroStrategy hack, the price of Bitcoin experienced a slight decrease. Bitcoin, which was close to reaching $52,000, is currently trading at $51,500. CoinMarketCap data shows that BTC dropped 0.10% in the last 24 hours, with an 11% decrease in trading volume. British crypto investor Cobie highlighted the simplicity of the exploit and pointed out MicroStrategy’s exclusive focus on Bitcoin. Cobie emphasized that it is highly unlikely for MicroStrategy, known for its unwavering commitment to Bitcoin, to launch a token on the Ethereum network.
This recent hacking incident targeting MicroStrategy has exposed the vulnerability of even well-established entities in the cryptocurrency industry. As investigations continue and efforts are made to minimize further losses, investors are urged to stay vigilant against phishing scams and fraudulent schemes.
Furthermore, the slight decrease in Bitcoin’s price underscores the impact of security concerns on market sentiment, highlighting the need for strong cybersecurity measures within the cryptocurrency ecosystem.
