The Twitter account of Vitalik Buterin, the co-founder of Ethereum, was hacked in a shocking act that shocked the cryptocurrency industry. The hack caused a drop in the price of Ethereum right away and sparked questions about the security of prominent crypto leaders. In the middle of the confusion, the number of Ethereum addresses with non-zero balances also rose to a record high.

Phishing Link Passed Off as an NFT Ad

When a hacker utilized an NFT promotion as a smokescreen to initiate the assault, the security breach assumed a dishonest form. The hacker sent a phishing link in a tweet from Vitalik Buterin’s hijacked Twitter account while pretending to be promoting an NFT collection linked to ConsenSys. The extent to which cybercriminals will lie to people in the Bitcoin field was emphasized by this instance.

The Fallout and The Stolen Funds

The effects of this attack were severe; preliminary estimates indicate that the hacker successfully stole funds worth more than $100,000. At the time of discovery, the contents of the compromised wallet showed a balance of $397,138.21. The severity of the event was highlighted by this large financial impact, which also made people wonder about the security procedures in place for well-known players in the cryptocurrency industry.

The price of Ethereum immediately dropped when the security issue was announced, temporarily lowering its market worth. These occurrences frequently instill a sense of unease in traders and investors, creating short-term volatility in bitcoin markets.

Highest Number of Non-Zero ETH Addresses Ever

It’s interesting to note that Ethereum managed to reach a significant milestone despite the hacking attack and its aftermath. A record-high number of Ethereum addresses now have positive balances. This demonstrates the Ethereum network’s tenacity and the ongoing interest in cryptocurrencies despite security worries.

The theft of money from Vitalik Buterin’s Twitter account and subsequent hacking acted as a sharp reminder of the difficulties and dangers involved with the cryptocurrency industry. Even while blockchain technology provides unmatched protection, fraudsters can still take advantage of the human factor. In the middle of the upheaval, the number of Ethereum addresses with non-zero balances reached a record high, demonstrating that despite setbacks, the crypto community is staunch and tenacious. This episode also serves as a reminder for increased security precautions and vigilance, particularly among prominent figures in the cryptocurrency industry, in order to safeguard their assets and the confidence of their followers.