Ethereum Co-founder Vitalik Buterin Faces Security Breach as Followers Report Significant Losses
Ethereum's Vitalik Buterin experiences X account hack; followers suffer financial setbacks exceeding $691,000 due to a deceptive link.
Fri, 15 Sep 2023, 10:42 am UTC
Vitalik Buterin, co-founder of Ethereum, has been reported to face a security breach on his X (formerly Twitter) account. Notably, this incident has been associated with significant financial damage to some of his followers, amounting to over $691,000.
On September 9, Vitalik’s father, Dmitry Buterin, took to X to inform the public about the breach, suggesting that everyone should be cautious and disregard the suspicious post. The concerning post, which was later removed, promoted an event titled "Proto-Danksharding coming to Ethereum."
Taking advantage of the situation, the cyber attacker introduced a deceptive link. The link was purportedly for a free NFT to commemorate the event. Unsuspecting users were duped into connecting their wallets, resulting in the theft of their funds.
The aftermath of this breach was evident when Ethereum developer Bok Khoo, popular as Bokky Poobah on X, reported a substantial loss in his prized CryptoPunk NFT collection. As of now, the base price for such a CryptoPunk NFT hovers around 46.99 Ether (ETH), nearly equal to $76,841. On the other hand, ZachXBT, a blockchain investigator with a significant follower base, disclosed that CryptoPunk #3983, valued at 153.62 ETH or approximately $250,535, was the costliest NFT stolen in this breach.
Amid speculations, a user by the pseudonym Satoshi 767 on X pointed out that Buterin might have been lax in securing his X account. This user went on to suggest that it was likely a result of Buterin's inadequate security practices unless it was an inside job at X or an external threat.
ZachXBT, however, offered a counter-narrative, emphasizing that given Buterin's prominence, he could easily be a prime target for various hacking methods. He further stated that it is premature to conclude the nature of the hack or pin it solely on SIM swapping.
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