The hijacked X accounts of the ZKsync ecosystem and the affiliated developer account are now once again under the control of the official team. The primary ZKsync team announced on May 13 that they have taken back complete control of their compromised X (formerly Twitter) accounts.
They think that compromised “delegated accounts”, accounts that were authorized to post or manage on behalf of the primary account were the cause of the hack. Now, those dangerous links are no longer there.
Yet soon after that a developer associated with ZKsync posted that the account might still not be completely secure, also warned, quoting that not to click on any link.
However, market observers say that the primary reason behind the hack of the account was to manipulate the prices of the token.
Why are social media accounts of crypto on the target of hackers?
Over the past few months a hack of X earlier Twitter accounts of known cryptocurrencies based companies has been hacked by malicious actors in order to gain massive profit at the time when the market is adding millions of dollars everyday.
Crypto-related social media profiles are sometimes linked directly to wallets or platforms that hold significant financial assets, they are extremely vulnerable, hackers publish false content over these hijacked accounts, manipulate markets for profit, or steal money.
Unlike traditional bank transactions, which are frequently reversible, bitcoin transactions are usually permanent and challenging to track. These accounts are attractive targets because of their irreversibility, which enables hackers to steal money with little chance of recovery.
It is widely said that the crypto market is largely influenced by FOMO and hype, and the majority of the time, the specifics about any specific product are driven by platforms like X, Instagram, Facebook, and Telegram, including a few others.
And as the hype is created through media, almost every community has a massive fan following, which help bac actors to target holders of particular crypto through the social engineering tactics.
And as dozens of reports suggest, the usage of social media has gathered massive traction among youth especially dominated by women and hackers and nowadays troubling crypto enthusiasts by engaging them in romantic relationships and false promises.
Crypto market price updates
When writing, the crypto market was at $3.31 trillion with an intraday loss of 1.43%, yet in the past 7 days. Experts argue that the slowdown in the pace has been backed by increased liquidation and greed among investors.
Bitcoin is now at $103,577, but in the past 24 hours, a steady decline has been noted in the trading price of BTC; at the same time, its market cap has seen a degradation of 1.43%.
