CEO of Polychain Capital had his Twitter account hacked, used to promote scam
Take action: The hacks of Mandiant and Olaf Carlson-Wee twitter accounts is a great reminder that you can be compromised on the social networks. Use MFA on your social network accounts.
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The CEO of Polychain Capital, Olaf Carlson-Wee, experienced a security breach when his Twitter account was hacked. Polychain Capital is an American investment firm, headquartered in San Francisco, California. Founded in 2016 by Olaf Carlson-Wee, the firm specializes in investments related to cryptocurrency and blockchain technology.
After the account was compromised the hackers used it to promote a fraudulent airdrop of Polychain's native token, PCHAIN, as part of a supposed New Year celebration.
The scam included links to a phishing site and reached over 40,000 Twitter users before the account was secured and the false post removed.
No details are available as to the way the account was hacked, but it's quite probable that it didn't have MFA active.
This incident adds to a series of hacks and scams in the cryptocurrency community, like the recent Orbit Chain bridge attack leading to significant losses in various cryptocurrencies. In a similar thread, attackers are focusing on social media credentials of companies and prominent individuals to abuse them, like the recent Mandiant twitter account hack.
