Generally, any kind of market as volatile as cryptocurrency and any other digital asset should be worried about the volatile nature of the market and not be too concerned about other stuff. But, in case of digital assets, the market has to deal with two demons at the same time. One is naturally the volatile nature that keeps a check and eye on the investors, but then there is also another demon which is closely monitoring the investors and waiting for an opportunity to get into the accounts and loot them off of all their investments. The demon here is referred to hackers.
The incidence of hackers hacking into the accounts of investors is quite common in the market. In another series of cases, it is coming to notice that, the hackers are hacking into the social media profiles of famous personalities who have a voice about digital assets and try and manipulate the followers to navigate to links organized to rob them off their investments.
In such an occurrence, a hacker went on to take charge of a twitter account from Korea and stole approximately $150,000 in NFT.
Korea NFT Artist Deekay Kwon’s account hacked.
Credits: YouTube
The Twitter account of Korean NFT artist DeeKay Kwon was compromised and exploited in a phishing scam. As a result, his supporters lost NFT worth nearly $150,000. On behalf of DeeKay Kwon, the hacker posted a harmful link to a fake website asking users to confirm a payment in order to access an exclusive collection token (NFT) giveaway.
The hacker wrote from the account – “The LetsWalk Collection giveaway is now available! Only 1000 lucky people can qualify! Good Luck!”
DeeKay Kwon was able to regain control of his account five hours after the attack started, remove the link to the phishing website, and issue an apology.
According to the reports, the hacker had gone ahead and sold around $90,000 worth NFT already and had transferred the ETH tokens to another wallet. Around $52,000 worth NFT was still in the hacker’s wallet ready to be sold.
Writer’s Analysis:
In the occurrence of crypto crimes, the regulatory bodies have to take charge and neutralize the tragedy as soon as possible. The failure of regulations bodies to curb the occurrence of crypto crimes especially cyber crimes is really not at all apt for the market. According to me, the market needs more strict regulatory policies, frameworks, and surely needs guidance from other regulatory bodies to curb the incidents of crime in the crypto sphere.
