After the hack, this token rapidly reached a market value of $25 million. Additionally, the wallet generated by the token produced over $600,000 in profit in a short period.

Hacker Methods

Investigations following the hack revealed that cybercriminals used highly sophisticated methods to take over the account. In particular, social engineering tactics helped the attackers gain access to account information. These methods are carried out by winning the trust of target users or providing them with false information.

In the initial phase, the hackers compromised Truth Terminal’s email address and then performed a password reset to gain access to the account. Such a cyberattack illustrates how vulnerable social media accounts can be. Many users become victims of such incidents because they do not take security precautions seriously enough.

User Reactions and Conclusion

The hacking incident caused significant disappointment among Truth Terminal’s followers. Many users argued that more measures should be taken to ensure security on social media. They emphasized that social media platforms need to develop more effective methods to address security vulnerabilities.

The hack of Truth Terminal‘s X account highlights the importance of the precautions that need to be taken regarding digital security. Such incidents necessitate a re-evaluation of cybersecurity strategies for both individuals and organizations. It should be noted that in the digital world, security is not only ensured by technical measures but also by the awareness of users.

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The post Truth Terminal Founder’s X Account Hacked appeared first on Coin Engineer.

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Also, the on-chain data show that the stolen amount of Bitcoin and Ethereum is approximately 26.1 million dollars.

Officer’s Notes mentioned the address that the hacker who stole Ethereum from FixedFloat exchange, in a statement about this hack on his official Twitter account.

However, the team referred to the attack as a ‘technical problem’ and provided no information to users.

Looks like @FixedFloat just got exploited for 1700 ETH!

Drainer address: 0x85c4fF99bF0eCb24e02921b0D4b5d336523Fa085

Info by: @reprove pic.twitter.com/XHnHy3CFSs

— Officer’s Notes (@officer_cia) February 18, 2024

In addition to these, some users were not able to complete their transactions. It is claimed that most funds are stuck in the sending phase.

There is no statement about when this problem will be corrected from the FixedFloat cryptocurrency exchange.

FixedFloat Crypto Exchange

It is an exchange that automatically allows the trading and storage of crypto. The exchange also provides support for the Bitcoin Lightning Network.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post Crypto Exchange Hacked Claim: 26 Million Dollars appeared first on Coin Engineer.