Polychain Capital, a firm concentrating on cryptocurrency investments, has confirmed that the X account of its founder and CEO, Olaf Carlson-Wee, has been hacked.

The breach was uncovered on Jan. 4 when Carlson-Wee’s account started promoting a fake airdrop for Polychain’s native token, PCHAIN. The hacker claimed the airdrop was part of Polychain’s New Year celebration, with the post including links that led to a phishing website.

However, soon after Polychain discovered the breach, it put out a statement acknowledging the hack and warning users against interacting with Carlson-Wee’s X account until further notice. 

The account, with more than 19,000 followers, has reportedly been retrieved, and the offending post deleted — but not without more than 40,000 X users viewing it. It is yet to be discovered how many people may have interacted with the post or lost their assets as a result.

The Carlson-Wee incident is the latest in a long line of hacks and scams perpetrated against the crypto community. In December, users of the Orbit Chain’s cross-chain bridge endured significant losses due to a hack that escalated the month’s total losses from such incidents to nearly $100 million.

The Orbit Bridge attacker, who struck at 8:52 pm UTC on Dec. 31, stole various cryptocurrencies, including Ethereum (ETH), USD Coin ( Go to Source to See Full Article
Author: Julius Mutunkei

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details