MicroStrategy, a prominent Business Intelligence Firm, faced a security breach on its X account, resulting in hackers posting malicious links promoting a fake Ethereum-based MSTR token airdrop.
The deceptive links led unsuspecting users to a counterfeit MicroStrategy page, urging them to connect their wallets to claim tokens. Once users granted permissions on their Web3 wallets, hackers gained access and drained their tokens. According to blockchain investigator ZachXBT and anti-scam platform Scam Sniffer, users collectively lost over $440,000 to the scam.
One unfortunate victim lost a staggering $424,786 worth of altcoins mere minutes after the initial malicious link was shared. The compromised funds included Wrapped Balance AI (wBAI), Chintai (CHEX), and Wrapped Pocket Network (wPOKT), with a portion redirected to a wallet associated with the hacking group, PinkDrainer.
Industry observers swiftly identified the scam’s obvious nature, highlighting MicroStrategy’s Bitcoin-centric focus as contradictory to launching an Ethereum token. However, MicroStrategy regained control of its X account and promptly removed the scam tweet. Despite this, the company has remained silent on the breach and the financial losses incurred by affected users.
