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Drake, the famous Canadian rapper, had his X account (formerly Twitter) hacked on December 14, with the attackers using it to promote a fake cryptocurrency meme coin called “Anita.” The scam falsely claimed the coin was linked to Stake, a gambling platform Drake has partnered with since 2022. The fraudulent post included a smart contract address and promotional content to make the scam appear credible. While the post was quickly deleted, and the fraudulent account tied to the coin was suspended, the incident highlights the rising wave of crypto scams targeting high-profile users on X. Blockchain investigator ZachXBT exposed the hack, which is part of a growing trend of social media scams exploiting the popularity of celebrities and influencers. Drake’s involvement in cryptocurrency may have given the fake coin more credibility, making it easier for hackers to deceive users. This case is one of several recent examples where prominent accounts, such as the Cardano Foundation’s, were used to push fake tokens or bogus airdrops. These scams aim to manipulate followers into trusting fraudulent schemes. The rise in crypto scams on X has been significant. According to Scam Sniffer, a blockchain security firm, fake crypto-related accounts on the platform have jumped from 160 daily in November to over 300 fake accounts per day. Many of these impersonate influencers, tricking users into joining fraudulent Telegram groups. In these groups, victims are urged to verify their identity using a bot called OfficialSafeguardBot. This bot employs social engineering techniques to create urgency, convincing users to perform harmful actions. During the verification process, the bot discreetly inserts malicious code into the victim’s clipboard. If executed, this code installs malware capable of accessing crypto wallets and stealing private information. Scam Sniffer reported that this malware, identified by VirusTotal, has already caused several confirmed thefts of private keys, resulting in financial losses for victims. The combination of phishing, malware, and social engineering represents a more dangerous wave of crypto scams, putting users at greater risk . Security experts urge caution, advising users to avoid engaging with suspicious crypto promotions or interacting with unverified accounts. With the number of scams on social media growing, it’s more important than ever for crypto users to remain vigilant and protect their assets.
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Major Warnings Issued by the Pi Network Team: Details
TL;DR Pi Network advised users to rely on official channels and use only the authentic Pi Wallet in the Pi Browser. With 14 million users verified and only 1 million left, Pi Network aims to launch its open network by December 31. However, delays and skepticism around the project continue to spark controversy. ‘Stay Safe,’ Pi Network Users The team behind the controversial cryptocurrency project Pi Network recently issued two important alerts for its users. First, the developers warned “pioneers” to rely only on information provided by official channels. They also provided a dedicated safety page showing all the sources and URL links the community can refer to. Shortly after, Pi Network reminded people to use only their Pi Wallets in the designated Pi Browser. “Ensure you’re in the correct Pi Wallet, not any fake one, to safeguard your Pi. The authentic Pi Wallet is also visually identified by a purple color in the navigation bar of the Pi Browser with a Pi logo featuring the Core Team apps logo,” the warning reads. Alerts of that type are essential for projects with a vast community base and, for that reason, are often targeted by scammers. Pi Network has amassed millions of users over the past few years, while its application recently hit the milestone of 100 million downloads. The project has a solid presence in Asia, with China, South Korea, Japan, Malaysia, Vietnam, India, Singapore, and more turning into strongholds. Not long ago, Wu Blockchain revealed that the number of Pi Network’s users in South Korea has reached 1.34 million. The only two local crypto-related entities having more users are the popular exchanges Upbit (4.36 million) and Bithumb (2.24 million). Moreover, the figure outnumbers the domestic client base of leading crypto exchanges like Binance and Coinbase. Major Developments on the Horizon? Despite becoming quite popular and being around for over five years, Pi Network has yet to launch its native token and mainnet. This , combined with the numerous delays and broken promises, has caused some to label the project a scam, claiming such huge developments will never see the light of day. For its part, Pi Network’s team previously said it will launch its open network once 15 million users complete the necessary verifications. Not long ago, Pi News revealed that 14 million people have already complied with the rules, with only one million left to do so . The final deadline is December 31 (a date moved numerous times in the last few months). Additionally, the Pi Core Team promised to announce the mainnet open roadmap in December, which should provide more clarity on when users will be able to buy and sell Pi tokens. It remains to be seen whether the final weeks of 2024 will bring significant developments or if the pessimists will turn right. The post Major Warnings Issued by the Pi Network Team: Details appeared first on CryptoPotato . Coinpaprika
BlackRock’s IBIT ETF Sees Increased Activity in Options Trading
BlackRock`s IBIT ETF experiences notable put options trading activity. Cash-secured puts offer investors premium income and potential asset acquisition. Continue Reading: BlackRock’s IBIT ETF Sees Increased Activity in Options Trading The post BlackRock’s IBIT ETF Sees Increased Activity in Options Trading appeared first on COINTURK NEWS . Coinpaprika
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Bitcoin Reaches $67 Billion: Details
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