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Jupiter Exchange Regains X Account Following Hack

Jupiter, a Solana-based decentralized exchange aggregator, had its X account briefly compromised, with the attacker using it to promote scam tokens, leading to market turbulence. The team has since regained control of the page, confirming that no funds or customer data were affected. Hack Leads to Token Scam Promotion The drama kicked off in the early hours of February 6 when an unknown attacker took over Jupiter’s X account, which boasts more than half a million followers. They then started posting about a newly launched meme coin called $MEOW, with the name a play on the platform co-founder’s pseudonym, Meow. On-chain records show that within minutes of the promotion, the fake token’s market value flew past $20 million as it attracted unsuspecting investors. However, the bad actor soon drained its liquidity pool, leaving traders unable to sell their holdings. Interestingly, as panic started spreading, the attacker doubled down on their scheme, using the Jupiter handle to push another token, DCOIN. Soon after, a related page, JupiterDAO, issued a warning , urging users not to interact with the fraudulent posts from the compromised main account. “Do not click on any links. Do not copy-paste any CA’s,” it cautioned. Nonetheless, the damage had already been done, with the price of Jupiter’s native JUP token nosediving 12% soon after news of the hack leaked. Team member Ben Liew also took to X, telling followers they were working with different unspecified parties to recover the profile. Hours later, the exchange announced it had regained control of its handle. It also reassured users that all customer funds and treasury holdings were secure, as they are stored in multisig wallets. Additionally, it stressed that no other communication channels had been breached, with the incident isolated to X. Jupiter co-founder Meow later revealed that they had been traveling with another key team member, Mei, at the same time when the attack happened. However, Mei was unreachable because of poor Wi-Fi signals, thus delaying the initial response to the situation. X Hacks Are Becoming More Prevalent It is not the first time hackers have targeted the social channel of a prominent crypto entity or personality. In the last couple of months alone, there have been many such cases, including an attack on former Department of Government Efficiency (D.O.G.E.) co-lead Vivek Ramaswamy’s X account last December. On that occasion, the hackers announced a fake partnership between the task force and the USUAL stablecoin project, boosting its native token to an all-time high price of $1.61. In a more recent incident, bad actors forcefully accessed the social accounts of three crypto projects , Foresight Ventures, Holoworld AI, and Litecoin, using them to promote a slew of bogus tokens. Another criminal also hacked the Nasdaq Twitter page to push a fake meme coin called STONKS, with its market cap blowing up to $80 million before the scammers pulled the rug from under the feet of oblivious investors. The post Jupiter Exchange Regains X Account Following Hack appeared first on CryptoPotato . crypto.news

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MicroStrategy Rebrands As the Corporate Bitcoin (BTC) Whale Posts Fourth Consecutive Quarterly Losses: Report

The largest corporate holder of Bitcoin ( BTC ) is trying a new name as reports of a year of losses begin to surface. Yesterday afternoon, Michael Saylor’s MicroStrategy announced a rebrand to simply “Strategy”. According to the announcement, the new name and logo will focus on reaching a wider audience as the company hopes to have a wider appeal. Says Saylor of the new look BTC corporate whale, “Strategy is one of the most powerful and positive words in the human language. It also represents a simplification of our company name to its most important, strategic core. Antoine de Saint-Exupery said, ‘Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.’ After 35 years, our new brand perfectly represents our pursuit of perfection.” The announcement was made just before Strategy posted quarterly earnings. According to a Reuters report , those earnings showed a fourth consecutive quarter of losses, adding up to one full fiscal year. Per Reuters, Strategy lost over $1 billion last quarter alone. During that quarter, Strategy bought 218,887 BTC for $20.5 billion, the company’s largest purchase yet. Strategy is showing no signs of slowing down. Two weeks ago, shareholders voted to raise more funds to buy more BTC. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Art Furnace The post MicroStrategy Rebrands As the Corporate Bitcoin (BTC) Whale Posts Fourth Consecutive Quarterly Losses: Report appeared first on The Daily Hodl . crypto.news