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Litecoin’s X Account Briefly Hacked, Scam Token Promotion Sparks Concern

On January 11, Litecoin’s official X account fell victim to a hack , briefly becoming a platform for promoting a fake Litecoin token on the Solana blockchain. The scammer posted a fraudulent message, riddled with grammatical errors, claiming “LTC is now in Solana.” The post included a dubious contract address and a link to “pump.fun,” which directed unsuspecting users to the scam token. The Litecoin team acted swiftly, regaining control of the account and confirming in an update that the breach occurred due to a compromised delegated account. The compromised access point has since been removed to prevent further incidents. This hack is the latest in a troubling pattern of similar attacks targeting prominent accounts on X . These breaches exploit the accounts’ credibility to promote fake tokens or phishing links designed to steal funds and sensitive user data. A String of X Account Hacks The Litecoin incident is not isolated. Over recent months, multiple high-profile X account profiles have been hijacked for fraudulent schemes. In October, EigenLayer, a restaking protocol, saw its X account hacked, leading to the promotion of a fake “Season 2 Stakedrop” campaign. The hacker disseminated malicious links claiming to reallocate EIGEN tokens before the EigenLayer team regained access to the account. November brought another headline-grabbing hack, this time targeting rapper Wiz Khalifa’s account . The attacker used the platform to advertise a fake memecoin called “WIZ,” falsely linking it to the artist. December proved particularly active for cybercriminals. On December 8, the Cardano Foundation’s X account was breached, with a hacker pushing a fake token, “ADAsol.” The scam falsely claimed Cardano would cease supporting ADA due to an SEC lawsuit. Before the scam unraveled, “ADAsol” generated $500,000 in trading volume, only to crash in value by over 99%. Later that month, Yat Siu, co-founder of Animoca Brands, had his account hacked to promote another fraudulent token on the Solana network. Need of Heightened Vigilance These incidents underscore the growing threat of social media-based scams in the crypto sector. For users, heightened vigilance is essential. Avoid engaging with unverified posts, double-check URLs, and stay informed about security updates from official accounts. As hackers increasingly exploit the trust associated with prominent profiles, platforms like X face mounting pressure to bolster their security measures and restore user confidence. The post Litecoin’s X Account Briefly Hacked, Scam Token Promotion Sparks Concern appeared first on TheCoinrise.com . The Coin Rise

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2 Metrics Indicate Ripple (XRP) Price Faces Trouble After Recent Surge to $2.60

TL:DR; XRP’s price went on an unexpected run on Saturday night, surging to a multi-week peak of $2.6 before correcting slightly. However, some on-chain metrics suggest that the asset could face trouble in the following days, especially if it fails to close above $2.47. XRPUSD. Source: TradingView As reported on Saturday evening, XRP’s rally drove the asset from $2.33 to $2.5 and later to $2.6, which represented an 11.5% surge within less than 24 hours. Although the asset has lost some steam since then and currently sits at $2.51, it’s still over 6% up on the day. This came shortly after reports emerged that whales had amassed more than a billion XRP tokens within a mere 48-hour period during the most recent correction in the middle of the business week. However, this is where the popular crypto analyst Ali Martinez sounded the alarm about a potential drawback for XRP’s price. At first, he pointed out that the TD Sequential, a technical indicator used to show the market exhaustion in either direction, had flashed a sell signal on the 4-hour chart. Nevertheless, this bearish formation will be invalidated if the asset closes above that line, which it still maintains. The TD Sequential presents a sell signal on the $XRP 4-hour chart, anticipating a brief correction. The bearish formation will be invalidated if #XRP closes above $2.47! pic.twitter.com/CrW303RTaT — Ali (@ali_charts) January 11, 2025 Additionally, Martinez highlighted a growing number of short positions opened when XRP peaked at $2.6. Recall that Ripple’s cross-border token was among the few with notable gains on Saturday evening while the rest of the market stood silently. Many traders might have anticipated a short-term correction due to XRP’s divergence from the pack, which indeed occurred to the current levels. The question now remains whether the cryptocurrency will remain above the aforementioned support or that was just the start of a broader correction. A lot of $XRP shorts were opened at $2.60, creating a substantial liquidation zone that market makers may try to grab. pic.twitter.com/cPIPwSjLEI — Ali (@ali_charts) January 12, 2025 The post 2 Metrics Indicate Ripple (XRP) Price Faces Trouble After Recent Surge to $2.60 appeared first on CryptoPotato . The Coin Rise