NFT

Beeple Twitter Hack Results in $438K USD Lost to Phishing Scam

The fake “free mint” saw both Ethereum and NFTs stolen from unknowing victims.

NFT

Beeple Twitter Hack Results in $438K USD Lost to Phishing Scam

The fake “free mint” saw both Ethereum and NFTs stolen from unknowing victims.

On Sunday, May 22, the Twitter account of Michael Winkelmann, better known as Beeple, was hacked and led to the loss of $438 thousand USD.

The hackers used a phishing scam disguised as an NFT mint of a fake Beeple collaboration with Louis Vuitton. Scores of Beeple’s followers who clicked on the link lost thousands in digital assets.

Both high-status and general social media accounts have become targets for hackers and scammers in recent months. Security experts on Twitter have advised the use of multiple strong passwords, not to save passwords to any browsers, creating several emails for separate use cases, and setting up multiple two-factor authentication steps.

Beeple later tweeted that he regained access with help from Gary Vee’s team while he was attending VeeCon and issued a statement on the event.

The tweet garnered mixed responses, with some people stating that “too good to be true” doesn’t exist in NFTs, while others asked the artist to airdrop NFTs to help them rebuild.

At the time of writing, Beeple had not made any additional comments on the situation. His account is assumed to be secure now and the associated wallets to the scam have been flagged as phishing schemes.

Elsewhere in Crypto, FTX starts offering zero-fee stock trading with stablecoin integrations.

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