Highlights:
- Hackers breached Giggle Academy’s X account, posting phishing links and false CEO announcements.
- Binance founder CZ and his team are actively working to recover the compromised account.
- Users are advised not to interact with the account until security is restored.
Giggle Academy, an educational initiative by Binance founder Changpeng Zhao, had its X (formerly Twitter) account compromised by hackers on November 16. Links to phishing attempts and fake announcements about a new CEO were disseminated.
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CZ alerted followers via his personal X account to be cautious of suspicious posts and clicking of malicious links from the compromised account. He stated “Woke up to ‘Giggle Academy X account hacked.” Worries over potential scams on users were further heightened by hackers altering the CEO’s name on the account and posting misleading information.
Woke up to "Giggle Academy X account hacked". 😱
Working on restoring it. Always use common sense when reading content from anywhere. 🙏
— CZ 🔶 BNB (@cz_binance) November 16, 2024
The hackers still have control of the compromised account. CZ and the Binance team are actively working to regain access and restore security. Users are strongly advised not to interact with any communications originating from the account until the issue is resolved.
Binance Team Pushes to Recover the Account
Yi He also warned the community as co-founder. “It has been hacked. if this account promises to issue coins or requests you to invest,” she said. The Binance team is actively working hard to resolve the issue and recover Giggle Academy’s X stolen. This serves as a reminder about how hackers fool users into giving them their sensitive information or funds.
If this account says it will issue coins, or asks you to invest, it must have been hacked . https://t.co/YlsFXIpwMf
— Yi He (@heyibinance) November 15, 2024
That is the latest hack in a string of incidents that have hit the cryptocurrency sector this year. Hackers trick high-profile accounts into spreading misinformation, run scams and upload phishing links. In June, hackers compromised Yi He X’s account to offer memecoins. She had to ask X owner Elon Musk to help to resolve the situation.
Giggle Academy’s Mission and CZ’s Vision
The Giggle Academy platform is a gamified learning experience for students (grades 1–12) that is free of cost. CZ launched this platform to bridge this gap to open education and also make learning fun in the low-literacy regions around the world. Based on blockchain and AI technology, Giggle Academy wants to provide personalized learning paths for its users without generating revenue from them.
However, since his exit from the leading Binance chain to provide education innovation, CZ has always been passionate about social impact projects. Through Giggle Academy, he plans to offer underserved communities the tools and knowledge needed to succeed in the digital economy. The key role of the project is to tackle educational disparities via cutting-edge technology.
Security Threats are on the Rise Against Crypto Community
This hack of Giggle Acadamy’s X account is part of another growing trend within the security breaches of the cryptocurrency community. Hackers have tried to spread misinformation and start fraudulent activities by trying to spread it across the social media accounts of well-known influencers and organizations. In June, hackers compromised 50 Cent’s account to promote GUNIT fake crypto, leading to a rug pull memecoin sell‐off that caused investors to lose $300 million.
50 Cent, a well-known American rapper, posted a tweet about GUNIT tokens with a link to pump fun. Within half an hour of the post, the market value of GUNIT soared to more than $8 million. But as 50 Cent quickly deleted the tweet and said on Instagram that his Twitter was hacked…
— Wu Blockchain (@WuBlockchain) June 22, 2024
These events highlight the necessity of appropriate vigilance and security protocols in the industry. The crypto community needs to remain vigilant for attacks and the best ways to protect themselves. However, to handle these problems, it is necessary to keep security updated and educate users about common hacking methods.
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