HomeBlockchainMicroStrategy hack: Fake MSTR AirDrop costs $440K

MicroStrategy hack: Fake MSTR AirDrop costs $440K


The hacked post showed MicroStrategy announcing the launch of a token called MSTR.

  • Users had lost a cumulative $440k due to the phishing scam as of this writing.
  • MicroStrategy was yet to officially confirm the hack.

Table of Contents


MicroStrategy hack: Fake MSTR AirDrop costs $440K
MicroStrategy hack: Fake MSTR AirDrop costs $440K

The X (previously Twitter) record of MicroStrategy, the world’s biggest public holder of Bitcoin [BTC], was compromised and used to post a phishing AirDrop interface a couple of hours prior.

The episode was uncovered by a X client Spreek at 12:40 am UTC on the 26th of February.

The bit of the now-erased post showed MicroStrategy reporting the send off of a token called MSTR, completely upheld by its BTC holds.

Clueless clients were baited into tapping the AirDrop connect, just to be denied of their crypto property. On-chain specialist ZachXBT fixed the misfortunes at $440K.

MicroStrategy hack: Fake MSTR AirDrop costs $440K

As of this composition, MicroStrategy still can’t seem to formally affirm the hack, and further subtleties are anticipated.

Helped to establish by Bitcoin maximalist Michal Saylor, MicroStrategy had property of 190,000 BTC according to its Q4 2023 income report. This added up to an incredible $9.8 billion at winning business sector costs

Phishing attacks proliferate

As per Web3 against trick stage Trick Sniffer, almost $300 million was lost due to crypto phishing tricks in 2023, with over 320K clients succumbing to such deceitful missions.

The pattern conveyed into 2024 as around $55 million was taken in January from over 40K casualties.

Breaking down the January patterns, Trick Sniffer noted,

MicroStrategy hack: Fake MSTR AirDrop costs $440K

“It is clear that there was a burglary top pretty much at regular intervals, frequently connected with airdrops or famous ventures.”

Article Source : Ambcrypto.com

AirDrops were progressively being utilized as a weapon to crash reserves. Last month, the email administrations of famous Web3 organizations were hacked and used to send AirDrop guarantee joins.

The coordinated phishing attack resulted in losses to the top of $580,000.

Such cases require additional judiciousness from the clients, and it’s dependably prudent to investigate prior to bouncing on the proposition. Spot warnings like sending any sort of crypto resource prior to having the option to guarantee AirDropped tokens.

Read more


Top 10 Indicators for Crypto Price Prediction

Cryptocurrency markets are known for their volatility, making price prediction an essential skill for traders and investors. To navigate these turbulent waters, a variety of...

Breaking News: Uniswap’s UNI Token Crashed

Explore the dramatic 24% plunge in Uniswap’s UNI token value within a week. Uncover the reasons behind the fall, from SEC scrutiny to Uniswap Foundation’s...

10 Interesting Facts About Floki Inu Coin

Discover fascinating insights about Floki Inu, from its meme coin origins to its unique three-pillar philosophy. Explore its utility, development team, and investment considerations. Dive...

4 Token Set to Boom by Over 500% in 2024

Discover the top four cryptocurrency tokens poised for explosive growth in the upcoming year, with potential gains exceeding 500%. The cryptocurrency market is known for its...

Most Popular