<p><strong>Key Points:</strong></p>   
<ul class="wp-block-list">
  
 <li><em>Ava Labs COO Luigi D'Onorio DeMeo's X account was hacked and used to post false token launch information.</em></li>   
 <li><em>The hack is part of a broader trend of crypto-related security breaches, with some incidents linked to insider actions at X.</em></li>   
 <li><em>Similar breaches have been notable, including the hacking of Frax Finance’s account and Microsoft India’s X account.</em></li> 
</ul>   
<h5 class="wp-block-heading">According to <a href="https://x.com/PeckShieldAlert/status/1825351652490240040" target="_blank" rel="noreferrer noopener">PeckShield Alert</a>, the hackers attacked the X account of Ava Labs COO Luigi D'Onorio DeMeo and utilized it to disseminate fake information about the token launch.</h5>   
<figure class="wp-block-image aligncenter size-large">
 <a href="https://coincu.com/wp-content/uploads/2024/08/On-Black-58.jpg"><img src="https://coincu.com/wp-content/uploads/2024/08/On-Black-58-1024x576.jpg" alt="Ava Labs COO's X Account Is Suspected to be Hacked With False Token Launch Information" class="wp-image-278719"></a>
 <figcaption class="wp-element-caption"> 
 </figcaption>
</figure>   
<p class="has-background" style="background-color:#222222">Read more: <a href="https://coincu.com/267455-doja-cats-x-hacked-pushing-scam-token-doja/" target="_blank" rel="noreferrer noopener">Doja Cat’s X Account Hacked, Pushing Scam Token $DOJA on Solana!</a></p>   
<h2 class="wp-block-heading" id="ava-labs-coo-x-account-compromised">Ava Labs COO X Account Compromised</h2>   
<p>There is fear in the crypto community as users are warned not to engage in any link or address shared from the compromised account following a hacking incident on the Ava Labs COO's X account.</p>   
<p>It's part of a concerning trend in crypto security breaches, and some point to insider actions at X. For instance, toward the end of May, crypto trader GCR reported his X account had been compromised via a bribe, which resulted in a fraudulent ORDI pump-and-dump scheme. Blockchain investigator ZachXBT later posited that the developers behind the <a href="https://coincu.com/267336-solana-firedancer-bug-bounty-program/" target="_blank" rel="noreferrer noopener">Solana</a>-based memecoin CAT might have been involved.</p>   
<h2 class="wp-block-heading" id="high-profile-hacks-drive-home-the-need-for-better-social-media-security">High-Profile Hacks Drive Home the Need for Better Social Media Security</h2>   
<p>On another front, <a href="https://coincu.com/215810-frax-finance-integrate-new-stablecoin/" target="_blank" rel="noreferrer noopener">Frax Finance</a> founder Sam Kazemian has alleged an insider at X was behind the hack of the project's account that caused the loss of access to the protocol powering the FRAX USD-pegged decentralized stablecoin in early June.</p>   
<p>Also, in June, Microsoft India's X account, which is officially verified, was hacked to post Roaring Kitty videos with links to purchase fake <a href="https://coincu.com/262927-gamestop-gme-surge-is-back/" target="_blank" rel="noreferrer noopener">GameStop GME</a> cryptos. It could have been because of a SIM-swapping attack, whereby scammers profited from the weakness of two-factor authentication.</p>   
<figure class="wp-block-table">
 <table class="has-luminous-vivid-orange-color has-text-color has-link-color">
  <tbody>
   <tr>
    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
   </tr>
  </tbody>
 </table>
</figure>

Ava Labs COO's X Account Is Suspected to be Hacked With False Token Launch Information

Table of Contents

Coincu

Other articles published on Aug 19, 2024

Vitalik Buterin Fuels Privacy Revolution with 400 ETH to Railgun

Easy Crypto launches new Australian wallet aimed at first-time crypto investors

Bitget joins Solana to host hackathon for startups in Vietnam

US Elections Expand to Solana Network! SOL-Based Platform Unveils New Service!

Polygon Renames MATIC to POL

Is Shiba Inu’s Burn Rate Decline a Sign of Trouble Ahead?

Join our free newsletter for daily crypto updates!