Hackers Laundered Nearly $400,000 Worth Of Funds Using Beeple's Hacked Twitter Account 10

Hackers Laundered Nearly $400,000 Worth Of Funds Using Beeple’s Hacked Twitter Account

  • Popular digital artist Beeple’s Twitter account was recently hacked
  • The hackers managed to steal $400,000 worth of crypto funds by posting dubious phishing links via Beeple’s Twitter account

Famous NFT artist Mike Winkelman, popularly known as Beeple’s Twitter account was recently hacked, resulting in users losing funds worth $70,000. Beeple’s Twitter account was hacked and used as bait to lure users into clicking dubious phishing links that later drained users off of their crypto funds.

Users Lost $70,000 Worth Of Funds Through Beeple’s Hacked Twitter Account

Crypto fraud is consistently rising, with rampant phishing scams targeting users across all major DeFi platforms. Recently famous digital artist Beeple fell prey to the latest online transgression when his Twitter account was hacked by scammers that posted fake phishing links to a fake Louis Vuitton NFT raffle. 

The hackers wanted to leverage Beeple’s loyal fan following by tricking them into trusting a fake Louis Vuitton NFT raffle. The link posted via Beeple’s account was redirecting users to a dubious website that would later drain all crypto funds off users’ crypto wallets.

According to blockchain security firm Peckshield, users have lost nearly 199 ETH amounting to $400,000 to scammers, who have successfully laundered these funds via Tornado Cash. The application is notorious for obfuscating the transaction trajectory by making it difficult to trace the lost crypto funds. 

As of now, Beeple’s Twitter account has been successfully recovered. Beeple further shared an update thanking Gary Vaynerchuk for helping him recover his Twitter account. He further stated there would be no surprise event in the future, advising users to stay vigilant and aware of alleged crypto scams. 

Phishing link scams are becoming increasingly rampant in the crypto space compelling users to click on ambiguous links. Described as a type of social engineering attack, phishing links scammers often send phishing/dubious links to users that may look legitimate at first but are developed to entice users to divulge their private information and credentials which are later used to steal their privately stored funds.