A hacker briefly gained access to Litecoin’s X social media account to fraudulently promote that LTC is now available on the popular smart contract platform Solana (SOL).
In a new thread, the developers of the decentralized peer-to-peer network warn investors about the breach but note that the team immediately regained access to Litecoin’s official X account.
“Litecoin’s X account was briefly compromised today and posts that were not authorized were published. These were live only for a matter of seconds before being deleted. We’re still investigating the issue, but immediately found a delegated account that was compromised and removed it. We apologize for any confusion caused.”
A screenshot of the incident shows that the scammer posted a message using Litecoin’s X account to falsely claim that LTC “is now [on] Solana.” The bad actor added a link that takes users to what appears to be a rug pull scam.
According to data from blockchain tracker DEX Screener, the scam token – referred to as LTC/SOL on Raydium – saw a massive dip in price on January 11th, around the time the hacker promoted the coin on Litecoin’s X account.
News of the breach had little impact on LTC’s price as it is trading for $104.10 at time of writing, a 1.4% increase on the day.
Earlier this month, it was reported that losses from crypto-related hacks soared in 2024, coming in at $3.01 billion, a 15% increase from the previous year’s total.
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Featured Image: Shutterstock/Elnur/Natalia Siiatovskaia
