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Founder of Kaito AI suffers X account hack in effort at coordinated crypto market manipulation
March 15's social media attack claimed Kaito AI, an artificial intelligence-powered platform focused on crypto market research, victim.
The hack aimed at Yu Hu, the official X account of Kaito AI creator, as well as the platform allowing misleading information about the security of the platform to be shared.
Hacker X Accounts of Kaito AI Founder in Cyber Attack
Warning consumers that their money was at danger, the hackers used the hacked accounts to publish false allegations that Kaito wallets had been compromised. Since they were removed later, these postings set off market panic that resulted in a 13% loss in the KAITO token before steadying on Saturday. With trading volume exploding over 80% in the previous 24 hours, the token is now trading at $1.4 at the time of writing.
Analyst in the distributed finance industry DeFi Warhol claims that before spreading the false messages, the attackers most likely placed short bets on KAITO tokens. The goal was to cause a sell-off, lower the price of the token, and benefit from the consequent market disturbance.
Reacting to the event, Kaito AI verified that the hack confined the X accounts and had no effect on the architecture of the site or any cryptocurrency wallets. Founding member of Kaito AI reassured consumers, saying,
Nothing connected to KAITO was hacked; no supply or wallet. Both my X account and the Kaito one were hacked; the hacker then started tweeting bogus information.
The crypto sector deals with an increasing wave of cyber threats.
Research partner Sandra Leow of Kaito pointed out that the hackers deliberately timed the assault during Yu Hu's idle hours, suggesting even more a deliberate attempt to maximize market damage. Since then, the Kaito AI team has taken over the accounts and confirmed once again that the platform is safe.
#KaitoXAccountHacked #MarketRebound #KAITO $KAITO
March 15's social media attack claimed Kaito AI, an artificial intelligence-powered platform focused on crypto market research, victim.
The hack aimed at Yu Hu, the official X account of Kaito AI creator, as well as the platform allowing misleading information about the security of the platform to be shared.
Hacker X Accounts of Kaito AI Founder in Cyber Attack
Warning consumers that their money was at danger, the hackers used the hacked accounts to publish false allegations that Kaito wallets had been compromised. Since they were removed later, these postings set off market panic that resulted in a 13% loss in the KAITO token before steadying on Saturday. With trading volume exploding over 80% in the previous 24 hours, the token is now trading at $1.4 at the time of writing.
Analyst in the distributed finance industry DeFi Warhol claims that before spreading the false messages, the attackers most likely placed short bets on KAITO tokens. The goal was to cause a sell-off, lower the price of the token, and benefit from the consequent market disturbance.
Reacting to the event, Kaito AI verified that the hack confined the X accounts and had no effect on the architecture of the site or any cryptocurrency wallets. Founding member of Kaito AI reassured consumers, saying,
Nothing connected to KAITO was hacked; no supply or wallet. Both my X account and the Kaito one were hacked; the hacker then started tweeting bogus information.
The crypto sector deals with an increasing wave of cyber threats.
Research partner Sandra Leow of Kaito pointed out that the hackers deliberately timed the assault during Yu Hu's idle hours, suggesting even more a deliberate attempt to maximize market damage. Since then, the Kaito AI team has taken over the accounts and confirmed once again that the platform is safe.
#KaitoXAccountHacked #MarketRebound #KAITO $KAITO
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