Following the massive breach of crypto investor and Ethereum co-founder Vitalik Buterin’s X account last weekend, red candles are burning across the global non-fungible token market. Ethereum-based NFTs started the week down 7.49%.
Vitalik Buterin X account hacked
On September 10, Vitalik Buterin, the co-founder of Ethereum, fell victim to a hack on his x-account (formerly Twitter). The massive breach saw over $691,000 stolen in crypto after investors clicked on a malicious phishing link.
Ignore this message, apparently Vitalik has been hacked. He’s working to restore access. https://t.co/2fjM0GhvIa
— dima.eth (@BlockGeekDima) September 9, 2023
The breach came into the spotlight after Dmitry Buterin, Vitalik’s father, whispered on his X account that his son’s account had been compromised. Hackers took advantage of Ethereum co-founder’s X account, claiming to be celebrating the arrival of “Proto-Danksharding to Ethereum.”
Previously, hackers shared a malicious link to supposedly free, non-fungible commemorative coins available, tricking victims into linking their wallets before ultimately stealing all their money. The breach caused many crypto investors to lose thousands of dollars. Ethereum developer Bok Khoo, better known as Bokky Poobah on X, claimed that he has already suffered losses in his CryptoPunk NFT collection.
The breach caught the attention of ZachXBT, a renowned chain sleuth, who quickly raised the alarm about the hacker’s activities to his more than 438,200 followers. He said the most valuable stolen NFT was CryptoPunk #3983, worth 153.62 ETH, equivalent to approximately $250,543.
So far, $147,000 has been lost pic.twitter.com/A4Xmr4MBmI
— ZachXBT (@zachxbt) September 9, 2023
Vitalik Buterin X’s account hack also caught the attention of Changpeng Zhao, the Chief Executive Officer of crypto exchange Binance. While commenting on the breach, the CEO noted: “X Account Security is not designed as financial platforms. It needs quite a few more features: 2FA, login ID must be different from handle or email.”Zhao has also fallen victim to a hack before.
Vitalik’s Twitter account has been hacked. Use common sense when reading social media content, even from major KOLs.
Twitter account security is not designed like financial platforms. It needs quite a few more features: 2FA, login ID must be different from handle or email, etc… pic.twitter.com/oYQch8r2H0
— CZ ???? Binance (@cz_binance) September 10, 2023
NFT sales are down 10% in the past 24 hours
It is worth noting that Ethereum is the largest blockchain for non-fungible tokens. In that context, most NFTs have been somewhat affected by the recent breach of Vitalik, Ethereum co-founder’s X account. Over the past 24 hours, NFTs hosted on Ethereum have fallen 7.59%, to just $4.4 million.
Source: CryptoSlam.ioEthereum-based NFT trading activity
Furthermore, the recent breach has impacted the sales volume of the global non-fungible token market. Over the past 24 hours, the NFT market has recorded a trading sales volume of $8.4 million, which represents a decline of 10.54% from the day before.
Source: CryptoSlam.io, NFT Sales In the Last 24 Hours.
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