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<p>MicroStrategy, the world&#39;s largest corporate Bitcoin holder, fell victim to a cyberattack on its <a href="https://twitter.com/microstrategy?lang&#61;en" rel="noopener noreferrer nofollow">X account</a> on February 26th when hackers posted a message promoting a fake token called &#34;MSTR,&#34; leading to the theft of almost $500,000 in cryptocurrency. Since then, the post has been removed.</p><p>Related: <a href="https://hodl.fm/deepfake-scam-hong-kong-crypto" rel="noopener noreferrer nofollow">There’s No Trust Between Colleagues. You Can Lose $25 Million On The Call!</a></p><h2 id="header-0">The Essence of the Scam</h2><p>Scammers hacked into MicroStrategy&#39;s business analytics company&#39;s X account and posted malicious links on it. Hackers tried to trick users into believing that MicroStrategy was distributing a new Ethereum-based token called MSTR. By clicking on the provided link and entering their credentials, scammers would gain access to the &#34;free MSTR&#34; scam.</p><p>The user who clicks the link lands on a webpage impersonating MicroStrategy, which prompts them to connect their wallet and claim the fake MSTR giveaway. Once users grant a series of permissions in their Web3 wallet, it becomes apparent that the scammers can automatically drain tokens from the user&#39;s wallet.</p><p>Related: <a href="https://hodl.fm/canada-ai-deepfake-threat-democracy" rel="noopener noreferrer nofollow">Canada’s Concerns on AI-Generated Deepfake Disinformation Campaigns</a></p><p>While the full extent of the hack remains uncertain, according to independent blockchain expert ZachXBT and anti-fraud platform Scam Sniffer, losses from the scam have already exceeded $440,000.</p><h2 id="header-1">READ MORE ON <a href="https://hodl.fm/microstrategy-x-account-hacked" rel="noopener noreferrer nofollow">HODL</a></h2>

Scammers Stole Nearly $500,000 Thanks to MicroStrategy

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