Weekly Crypto Hack Report: The Murder of $4 Million From Metawin and the Breach of Wiz Khalifa’s X Account

The post Weekly Crypto Hack Report: The Murder of $4 Million From Metawin and the Breach of Wiz Khalifa’s X Account appeared first on Coinpedia Fintech News

This week has seen major cyber events targeting Metawin, a cryptocurrency gambling application and American rapper Wiz Khalifa’s Twitter account. These attacks have resulted in losses running to millions proving that there is still instability within the crypto and digital asset market.

On the 4th of November 2024, on-chain investigator ZachXBT exposed that a gambling platform of cryptocurrency Metawin was affected by a major cyber attack. The hackers were able to siphon more than $4 million from the platform in both Ethereum and Solana. Nevertheless, it is still unclear how the attack has been performed and how cybercriminals managed to gain a foothold on the platform and take so much crypto.

This attack raises issues for DeFi and play-to-earn-styled games, showing how every platform holding millions in crypto needs better security measures. Metawin has not given an official report on how they are undertaking remedial measures or actions to be taken to avoid repeat cases.

On the same day, on November 4, 2024, another popular account ZachXBT revealed that the X account of the famous rapper Wiz Khalifa was also hacked. The attackers made fake press releases in order to deceive the audience regarding the existence of nothing more than a fake cryptocurrency called the WIZ token. They were engaged to use the token which they not only invested in but were also vulnerable to scams or phishing.

This hack was supposedly made by the same person who hacked the X account of Truth Terminal’s founder, Andy Ayrey. In this case, the hacker’s goal was to leverage major celebrity’s influence to deceive their unsuspecting followers.

People should be cautious and alert for crypto promotions on social media especially those impersonating bigwigs.

Disregard of security at Metawin, and the social media accounts of Wiz Khalifa expose a significant vulnerability of crypto assets as well as the social media of personalities. With threats increasing in complexity, platforms and people are encouraged to increase their security protocols and be vigilant of potential threats.