It has been just revealed the fact that Vitalik Buterin’s X account has been hacked. Here’s what we know so far.

Buterin’s account hacked

A phishing attack resulted in the theft of approximately $700,000 worth of cryptocurrency and NFTs from Ethereum co-founder Vitalik Buterin’s X account.

The account was compromised and used to promote a fake commemorative NFT mint with a supposed time limit, urging users to act quickly.

The link led to a phishing website that drained the wallets of those who interacted with it. Crypto sleuth ZachXBT and on-chain data estimate that the attack resulted in the loss of one CryptoPunk NFT valued at $250,000, as well as hundreds of ether from multiple individuals.

The hacker has sold most of the stolen NFTs and retained the proceeds from the attack in their wallet.

NFT drainer software

It has been reported by The Block that there are individuals who create and sell NFT draining software to those who wish to carry out phishing attacks.

These bad actors use software, such as Pink, to drain cryptocurrency from victims’ wallets. The creators of the software often receive a portion of the rewards from those who use it. Pink is a relatively new drainer that has been widely used for several phishing attacks this year.

Targets of these attacks are often approached by individuals posing as journalists associated with cryptocurrency media organizations.

These attackers use tactics such as encouraging their target to bookmark a document in their browser, which enables malicious code to gain a foothold.

To protect against these attacks, it is recommended to keep valuable NFTs and large amounts of cryptocurrency in cold storage instead of hoarding them in online wallets.

We suggest that you check out the original article posted by The Block in order to learn more details about all this.