According to the latest news, the X account of the co-founder of Ethereum, Vitalik Buterin, has been hacked.
ZachXBT Confirms Losses Worth $691K
ZachXBT, a well-known blockchain investigator, claims that the hack resulted in victims losing over $691,000 in total due to a fraudulent link shared in his hacked account. The hacker tricked users into connecting their wallets before taking all of their money by sharing a fraudulent link of a supposed free nonfungible token (NFT).
Vitalik Buterin’s Father Confirms the Hack
Dmitry Buterin, Vitalik’s father, informed that his son’s account had been compromised in his post on X on September 9. He tweeted: “Disregard this post, apparently Vitalik has been hacked. He is working on restoring access.”
Bok Khoo, an Ethereum developer, claims he has incurred losses in his collection of CryptoPunk NFTs. In addition, a user, Satoshi 767 said that the incident could be the result of Buterin’s X account not having adequate security safeguards in place.
Vitalik is A Big Target
ZachXBT refused these claims, claiming that Vitalik Buterin’s high profile puts him vulnerable to numerous types of hacking attempts. He said: “You do not know yet whether it was a SIM swap. Vitalik is a big enough target to where an insider could have been paid off or panel was used.”
At the beginning of the year, the co-founder of the blockchain network claimed that the “largest remaining challenge” for Ethereum is “privacy,” and added that it had a potential answer.
He proposed the concept of “stealth addresses,” that he asserted might safeguard users by posing as anonymous peer-to-peer transfers of nonfungible tokens (NFTs) and registrations for the Ethereum Name Service (ENS).
Buterin said in November when discussing the adoption for cryptocurrency exchange-traded funds (ETFs), adding that he is partly pleased that the government is taking so long. The software engineer believes that the cryptocurrency industry needs some time to grow and develop a robust regulatory architecture that can successfully prevent bad actors from taking advantage of the ecosystem before implementing ETFs.