Another Security Breach: Decentraland X Account Compromised

The official X account of Decentraland, the virtual reality platform, was hacked on Wednesday.

According to an X post by the company, the hacker somehow managed to get access to post, read, and DM from its official account.

The security breach reportedly began with a phishing email that appeared to be from X support, which contained fake login attempts. In a bid to secure the account, team members clicked on a link to change the password. They then unknowingly fell victim to the phishing attack. Owing to this action, the hacker gave delegation access to another user, @yeray284, enabling them to post from the compromised account.

Decentraland acted quickly to notify its community through various platforms, including Discord, Reddit, and Telegram, as well as personal social media accounts. The team submitted support tickets to X and reached out to contacts at the platform for assistance in restoring the account.

Furthermore, the company changed passwords and enabled two-factor authentication (2FA) across all accounts. It removed all devices linked to social media accounts to prevent further unauthorized access. Legal resources were then sought to pursue takedowns of any content posted by the hacker.

Security Challenges in the Cryptocurrency Sector

Hacking isn’t a novelty in the crypto space. Recently, Indodax, the Indonesian cryptocurrency exchange, also got hacked. The security breach led to a theft of around $22 million in digital assets from its hot wallets.

Cybersecurity firm PeckShield Alert noted that more than ten major hacks had happened in the month of August, resulting in a loss of around $313.86 million in stolen funds. Apart from this, around 93.5% of the total theft happened due to two large-scale phishing attacks, together accounting for $293.4 million.

Another significant security breach happened with the Indian cryptocurrency exchange WazirX, which resulted in a loss of more than $230 million.

As per the most recent incident, Decentraland noted that it is committed to improving its internal security measures. The team is closely monitoring the situation and adjusting protocols to enhance overall account safety. This includes revising contact lists to ensure all team members are informed about the incident and can contribute to future prevention efforts.

Decentraland is laying down several safety measures and urged its community to remain vigilant. Users have been advised to double-check the sender’s information before clicking on any links to avoid phishing attempts.

Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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