MicroStrategy, a prominent business intelligence firm, faced a security breach on its X account, resulting in the dissemination of fraudulent links promoting a sham airdrop for a fabricated Ethereum-based MSTR token. As a consequence, unsuspecting users were duped into losing a total of over $440,000 in cryptocurrency.
The compromised X account was manipulated to redirect users to a counterfeit MicroStrategy page, where they were prompted to link their wallets to purportedly claim the tokens. Upon granting permissions, hackers gained unauthorized access to users’ wallets and siphoned off their funds.
Blockchain investigator ZachXBT and anti-scam platform Scam Sniffer revealed that victims collectively suffered losses exceeding $440,000 due to the scam. Notably, one user incurred a substantial loss of over $420,000 shortly after the initial malicious link surfaced on MicroStrategy’s account. The victim unwittingly transferred significant amounts of altcoins, including Wrapped Balance AI (wBAI), Chintai (CHEX), and Wrapped Pocket Network (wPOKT), to the attacker’s wallet.
Numerous market observers and industry experts swiftly identified the scam’s apparent nature. Notably, British crypto investor Cobie emphasized that MicroStrategy’s focus on Bitcoin rendered the notion of launching a token on Ethereum implausible.
MicroStrategy promptly regained control of its X account and removed the fraudulent tweet. However, the company has refrained from commenting on the incident or addressing the financial ramifications experienced by affected users.