Today a hacker(s) hacked MicroStrategy's X account and promoted a non-foolproof phishing scam, stealing assets worth hundreds of thousands of dollars.

The Hack

     The aforementioned hacker or hackers tricked people with the promise of an airdrop promotion of a recently released Ethereum-based token from MSTR that was backed by MicroStrategy's BTC reserve. Under the pretext of an airdrop link, they disseminated a wallet drainer link that, by approving sending signatures, drained user's wallets.

The plan was not foolproof

     Microstrategy is a real company; it does not offer airdrops or giveaways. Moreover, MSTR boss Michael Saylor is a Bitcoin maximalist; he will not initiate a shitcoin airdrop supported by Bitcoin. In the crypto world too, every company provides notice prior to token launch; no one launches in early bird scheme.

What's Next?

     This hacking took a toll on the reputation of Microstrategy and Saylor for not keeping Microstrategy's account 2FA secure. It also drastically devalued the altcoins that were stolen. In order to prevent hackers from using the stolen assets, researchers will now track those stolen tokens and notify the crypto world about the wallet's behaviour.