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Market News

EigenLayer’s X Account Breached Promoting Fake Airdrop

Hackers used the compromised account to promote a fake Season 2 EIGEN token airdrop.

Written By:
Jalpa Bhavsar

Reviewed By:
Dhara Chavda

Last updated: October 18, 2024 11:03 PM
Published October 18, 2024 8:12 PM
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Last updated: October 18, 2024 11:03 PM
Published October 18, 2024 8:12 PM
EigenLayer’s X Account Breached Promoting Fake Airdrop

The official X (formerly Twitter) account of EigenLayer, a restaking protocol developed by Eigen Labs, was hacked on Friday morning, leading to a series of fraudulent posts. 

Eigen Labs quickly confirmed the compromise, urging users to avoid interacting with suspicious links and to verify engagements with their official website, ‘eigenlayer.xyz.’ 

Blockchain investigator ZachXBT also issued a warning on his Telegram channel, alerting users about the account breach and potential risks. The post says, “EigenLayer X/Twitter account is currently compromised, do not click any links.”

EigenLayer's Malicious airdrop post
EigenLayer’s Malicious Airdrop post, Source: Twitter

The hackers used the compromised account to promote a fake airdrop of EIGEN tokens, linked to Season 2 of EigenLayer’s stakeholder airdrop. According to crypto anti-scam platform Scam Sniffer, the attackers shared a malicious link disguised as a reallocation event for the tokens.

The first fake post was followed by two more, including a “final call” urging users to claim tokens. However, the actual claim period for the legitimate Season 2 stakedrop had already ended, making the posts obvious phishing attempts.

EigenLayer, which lets users stake ether to help secure third-party networks, has become popular in the crypto space. Its growing influence likely made it a target for scammers looking to exploit its user base through social media.

EigenLayer faced its second security breach since October, following an October 4 incident where a hacker stole 1.6 million EIGEN tokens, worth $5.7 million, through a compromised email thread.  The team froze some funds and assured users that the incident didn’t affect the protocol’s core functionality.

This incident is part of a larger trend of social media account hacks aimed at promoting crypto scams. Other notable victims include the X accounts of celebrities like Hulk Hogan, Lara and Tiffany Trump, and Doja Cat, as well as corporate accounts like McDonald’s.

With these attacks happening more often, it’s clear that better security and user caution are needed in the crypto space.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Jalpa Bhavsar- Senior crypto journalist at The Crypto Times
By Jalpa Bhavsar
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Jalpa Bhavsar is a Crypto Journalist with 3 years of experience in crypto, blockchain, AI, digital design, and crypto news reporting. She holds a B.Tech in Computer Science, bringing a strong technical foundation to her writing. Jalpa focuses on delivering clear, accurate, and engaging coverage of the latest trends and developments in the crypto and tech space.
Dhara Chavda- Crypto Research Analyst at The Crypto Times
By Dhara Chavda
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Dhara Chavda is a Content Strategist and Research Analyst with 5 years of experience in the crypto industry. She holds a Bachelor’s degree in Computer Engineering and brings a strong technical perspective to her work. Dhara specializes in DeFi, price analysis, and the core mechanics of cryptocurrencies. She also works on crypto news, including research, analysis, and assigning stories, ensuring accurate and timely coverage of key developments in the space.

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