On September 9, Dmitry Buterin shared on a platform previously known as Twitter. He disclosed that his son, Vitalik Buterin, co-founder of Ethereum, had experienced a security breach.

Dmitry Buterin cautioned users on the platform to exercise caution and avoid engaging with a now-deleted post from Vitalik’s account. This post appeared to celebrate the upcoming launch of Proto-Danksharding on the Ethereum network.

Vitalik Buterin Account Hack Leads to $691,000 Loss and Phishing Concerns

The purported hacker shared a malicious link. This link directed users to a non-existent commemorative NFT. They were then prompted to link their wallets. This ultimately resulted in the loss of their funds.

ZachXBT, a well-known blockchain analyst, reported that this incident led to a collective loss exceeding $691,000.

Among the victims was Ethereum developer Bok Khoo, also known as Bokky Poobah, who reported significant losses from his CryptoPunk NFT collection. As of now, it remains unclear whether Vitalik Buterin has regained control of his account after the misleading post was removed.

This incident occurred in the midst of a growing wave of phishing scams on social media. Prominent figures in the crypto industry, including Binance CEO Changpeng Zhao (CZ), have expressed concerns about the rising prevalence of such fraudulent activities.

They caution that malicious actors often employ verified bots and strategically target influential crypto profiles to disseminate fake links. In recent months, hackers have targeted the social media accounts of notable individuals such as media personality Peter Schiff, Uniswap founder Hayden Adams, Sandbox CEO Arthur Madrid, and renowned NFT artist Peeple, among others.

Ripple’s XRP Faces Ongoing Scams Despite Assurance from Elon Musk

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Additionally, the crypto community has been inundated with numerous online scams related to Ripple Labs’ XRP token. Many posts have promised substantial XRP airdrops, raising questions about the platform’s ability to combat spam and other illicit activities.

Despite assurances from X’s owner, Elon Musk, regarding the elimination of most scams, many crypto users hold a different view.

The prevalence of fraudulent activity, particularly within the crypto space, shows no signs of abating. Ripple and its XRP token continue to be consistent targets, especially after gaining increased media attention following the company’s partial legal victory against the U.S. Securities and Exchange Commission (SEC) in July.

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