Yesterday morning, hackers broke into Government Minister Lucy Powell’s X account to promote a crypto scam coin dubbed ‘House of Commons Coin’ or $HCC.
The fraudster(s) falsely claimed that it was an official House of Commons initiative, describing it as ‘a community-driven digital currency bringing people’s power to the blockchain.’
Powell swiftly deleted the misleading post and secured her social media account to prevent similar incidents from occurring. Thanks to her quick response, the tweet attracted a mere £225 to the scam.
Celebrity Social Media Accounts Fuel Crypto Scams
Investors didn’t lose major bucks, but even so, the incident shouldn’t be ignored. It follows similar cyberattacks targeting high-profile figures with large social media followings.
Movers and shakers in politics and beyond are often targeted by phishing emails or data breaches to lend legitimacy to scams.
Another example is when Political BBC Journalist Nick Robinson’s X account was hacked in February.
After falling prey to a phishing scam, his account was exploited to advertise a cryptocurrency called ‘$TODAY.’
These scams are described as ‘pump and dump’ schemes. Cybercriminals attract investors (in these cases, through celebrity endorsement), artificially inflate the coin’s value, and then sell their holdings for profit, leaving the coin worthless.
Action Fraud received reports that 35,343 social media and email accounts were compromised last year, illustrating the weight of online hoaxes.
To defend against shady schemes, Action Fraud advises enabling two-factor authentication (2FA) and using a strong password consisting of three random words that are never shared.
Another way to steer clear of deceptive crypto ventures is to stick with the Best Wallet app.
Don’t Be Fooled By Fake Crypto Tweets, Join Best Wallet
Best Wallet is a safe gateway to vetted crypto presales alongside the best meme coins and altcoins.
Already ranked as the best software wallet for trading and HODLing, Best Wallet has set its sights even higher, aiming to shake up the $11B non-custodial market.
As a top self-custody wallet, Best Wallet ensures you alone hold your wallet’s private keys, so there’s no risk of rug pulls, shutdowns, or insider theft.
Best Wallet’s ecosystem is about more than just crypto storage and security – think integrated DEX access, exclusive airdrops, a token launchpad, and seamless cross-chain swaps, all in one user-friendly app.
You can rest easy knowing you can enable 2FA and FaceID. It also has advanced anti-fraud and MEV protection in the pipeline.
And there’s more. Buying its native token, $BEST, comes with extra perks: reduced transaction fees, community governance, and higher staking rewards (currently at an impressive 129% APY!).
Buy $BEST to Save on Legit Crypto Presales
In a world where even prominent public figures aren’t safe from crypto scams, choosing only trustworthy platforms to facilitate your digital asset investments is essential.
This is why tools like Best Wallet are becoming more prevalent. Instead of finding the hottest new crypto opportunities on social media channels, you can access verified presales and top-performing tokens directly from the mobile app.
Better still, you can save fees on legit crypto presales by purchasing $BEST on presale.
Buying $BEST is a breeze. All you need to do is head to the official Best Wallet Token website, connect your wallet to the widget, and buy as many coins as you’d like using fiat, popular crypto, or meme coins.
Considering it has already raised $11.7M and the $BEST price is predicted to reach $0.072 (a 190.91% spike compared to its current $0.02475 value), now’s an opportune time to buy in.
Nevertheless, this isn’t investment advice. You must DYOR and be aware that crypto prices can tumble as quickly as they jump, even after going live on the best DEXs and CEXs.
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