Members of the Crypto Twitter community recently rallied to warn others about a scam orchestrated through the compromised Twitter account of Uniswap founder Hayden Adams.
The cyber attack, which occurred on July 20, saw scammers falsely claiming that Uniswap’s Permit2 contract had been exploited, putting users’ tokens at risk. Despite quick removal of the initial scam tweet, similar fraudulent tweets continued to surface.
On July 20, the “Web3 Security Alerts” channel on Telegram notified its followers that Uniswap founder Hayden Adams’ Twitter account had been compromised.
The hacker(s) used the account to send out a deceptive tweet, falsely asserting that Uniswap’s Permit2 contract had fallen victim to an “unknown exploit,” putting users’ tokens in jeopardy. The tweet further encouraged users to click on a malicious link, potentially leading to the loss of their crypto assets.
Crypto Twitter members acted swiftly in identifying the scam and warning others about the fraudulent tweet. The crypto community understands the importance of vigilance and collaboration to combat cyber threats effectively.
Despite the prompt removal of the first scam tweet, several nearly identical ones emerged, remaining visible to Twitter users for a period.
In addition to the Twitter hack, the scammer(s) managed to block Hayden Adams from accessing his accounts with MetaMask and Coinbase Wallet, further raising concerns about the security of crypto-related accounts on social media platforms.
While scams on social media platforms are not new, companies like Twitter have been actively taking measures to curb such malicious activities.
On July 1, Twitter’s executive chair, Elon Musk, announced temporary limitations on the number of posts users can read daily, aiming to detect and eliminate bots and bad actors.
Meta, formerly known as Facebook, launched Threads, a microblogging app that aims to rival Twitter. With a rapid user base reaching over 100 million, scammers have quickly emerged to promote fake non-fungible token (NFT) projects and impersonate Crypto Twitter personalities.