The Aptos Foundation’s official Twitter account was compromised recently by scammers. According to a warning tweet by Aptos Labs, the hackers took control of the @Aptos_Network account on Twitter, using it to spread misinformation about a fake APT airdrop.
The scammers posted a tweet claiming Aptos was doing a Season 2 airdrop, distributing free tokens, and directing users to a fake website asking them to connect their digital wallets.
We’ve received official communication from Aptos Foundation that @Aptos_Network has been compromised.
The latest tweet regarding an $APT airdrop is fraudulent.
Please DO NOT engage with that tweet or the link provided.
— Aptos Labs (@AptosLabs) July 6, 2023
Aptos Foundation’s Twitter Account Compromised
While responding to the situation, Aptos Labs, the company behind the Aptos Network, confirmed the Twitter hack of the Aptos Network account.
“We are working with Aptos Foundation to update the community as their Twitter account is secured,” the tweet said at the time.
Additionally, it appears that the Twitter account of Mo Shaikh, CEO of Aptos, may have also been compromised as part of the attempt.
However, at this time, it appears that Aptos Network’s account has been recovered, although it is currently unclear the number of people that fell victim and the amount of money lost to the scam.
We’re back! The @Aptos_Network Twitter account has been recovered.
Thank you to our partners at @AptosLabs for their vigilance and speedy communication with the Aptos community during this time. https://t.co/6OZJT92oH6
— Aptos (@Aptos_Network) July 7, 2023
APT price trending at $7.11 | Source: APTUSDT on TradingView.com
Twitter Hacks: A Disturbing Trend In The Crypto World
The hacking of Aptos Foundation’s Twitter account to promote a fake airdrop scam shows why crypto investors need to remain vigilant. Twitter accounts of crypto projects and celebrities have been known to be subject to frequent hacks in order to take advantage of unsuspecting followers. Fraudsters are taking advantage of people’s FOMO (fear of missing out) on coins, airdrops, and NFT hype to steal money.
Last month, the Twitter Account of OpenAI’s CTO, Mira Murati, was hacked to promote a fake $OPENAI crypto airdrop. It seems like this is the turn of the Aptos Foundation.
The Aptos Network is designed to unlock new tokens on the 12th of each month, and investors are gearing up for the release of 4.54 million APT tokens on July 12. With the current market price of APT at $7.18, this brings the total value of the unlock to $32.62 million.
It is still unclear how this is going to affect the value of APT, as prices have sometimes dropped or spiked after previous token unlocks.
APT’s price is currently sitting at $7.14 at the time of this writing. The token is down 0.37% in the last day, and on the weekly chart, it is seeing losses of 2.08%. With its market cap sitting at roughly $1.5 billion, the altcoin is ranked as the 34th-largest cryptocurrency in the market.
Featured image from Asia Crypto Today, chart from TradingView.com