Pseudonymous crypto trader GCR has revealed that his X account was hacked due to a bribe, leading to a pump-and-dump scheme involving the ORDI token.
On May 26, the X account of GCR (Gigantic Rebirth), a well-known cryptocurrency trader, was hacked. The attackers reportedly used a bribe to gain access and promote two tokens on crypto exchanges.
GCR alerted his followers to the breach through a post on another account. He explained that the attackers took control of his original account to promote ORDI, a BRC-20 token linked to the Ordinals protocol on the Bitcoin blockchain, and LUNA2, a token created to revive the Terra Luna ecosystem after the collapse of the UST stablecoin in May 2022.
GCR shared, “I was notified 2 months ago by someone affiliated with Twitter that bribes had been made to get access to my account, and I beefed up security then. But there can’t be any security if X employees take money for admin access.”
Shortly after the hacked account promoted ORDI, its price on Bybit spiked from $38 to $46 before dropping back to $40 within minutes.
While the hacker’s identity is still unknown, blockchain investigator ZachXBT noted on his X account that the hacker’s identity might be uncovered within 12-24 hours. He mentioned that the hacker “messed up and washed their funds poorly,” making it easier to track them through centralized exchanges.
Reports suggest that the hacker opened large positions on various centralized exchanges before hacking GCR’s account, potentially revealing their identity.
Summary Review: The hacking of GCR’s X account through a bribe highlights the vulnerabilities in platform security, especially when internal access can be compromised. Despite taking precautions after a prior warning, GCR’s account was used in a pump-and-dump scheme, significantly affecting the prices of the ORDI and LUNA2 tokens. The incident underscores the need for stronger security measures and accountability within social media platforms. With ongoing investigations, there is hope that the hacker’s identity will be revealed soon, which may lead to greater transparency and preventive actions in the future.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
