Hacked Microstrategy Account On Social Media Platform X Leads To $440,000 In Losses

Updated: 26 February 2024

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Hackers have stolen over $400,000 from unsuspecting users after posting a phishing message on MicroStrategy’s compromised X account.

The X account of the investment company, whose co-founder is Bitcoin bull Michael Saylor, was hacked on February 26. The hackers posted a fake message of an $MSTR token airdrop.

there was a second best after all

(hacked acc if not obvious lol) pic.twitter.com/cdLqbqiiCO

— Spreek (@spreekaway) February 26, 2024

Users following the malicious link to claim the “$MSTR token” were redirected to a fake MicroStrategy website. They then received a prompt to connect their crypto wallets and grant permissions.

According to blockchain sleuth ZachXBT, over $440,000 has been stolen in the campaign.

0xe7645b8672b28a17dd0d650a5bf89539c9aa28da

~$440K stolen from the compromise so far

— ZachXBT (@zachxbt) February 26, 2024

MicroStrategy appears to have regained control of their X account and deleted the fake message.

One User Loses Over $420K After MicroStrategy Attack

One victim reportedly lost more than $420,000 following the hack and drained multiple altcoins from the wallet address a few minutes after posting the phishing message.

In one of the transactions, the attacker transferred the stolen tokens to a wallet address controlled by a hacker group known as PinkDrainer.

someone lost $424,786 worth of $wBAI, $wPOKT, and $CHEX to phishing scams about 5 minutes ago. pic.twitter.com/GEJvHEXuM7

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) February 26, 2024

The hackers’ wallet was holding $192K worth of Ether at 06:23 EST, according to Etherscan.

Phishing campaigns are common in the crypto industry. However, some crypto users on X have said this particular phishing attack was so obvious because it’s incredibly unlikely that Bitcoin bull Michael would launch a crypto token on Ethereum.

MicroStrategy holds over $9 billion worth of Bitcoin.