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Today: May 11, 2024
January 5, 2024
1 min read

“Founder’s X Account Hacked: Polychain Capital’s Crypto VC Nightmare”

TLDR

Crypto venture capital firm Polychain Capital has confirmed that the X account of its founder and CEO, Olaf Carlson-Wee, has been compromised. The hacker has been posting phishing links disguised as airdrops, prompting the company to urge users to avoid interacting with Carlson-Wee’s Twitter handle until further notice. This incident comes after a recent report revealed that cryptocurrency phishing scams exploited 324,000 victims for nearly $300 million in 2023.

Key Points:

  • Polychain Capital confirms that the X account of founder Olaf Carlson-Wee has been hacked
  • The hacker posted phishing links disguised as airdrops, prompting the company to warn users
  • Cryptocurrency phishing scams exploited 324,000 victims for nearly $300 million in 2023, according to a recent report

Crypto venture capital firm Polychain Capital has confirmed that the X account of its founder and CEO, Olaf Carlson-Wee, has been compromised by a hacker. The hacker has been posting phishing links disguised as airdrops, attempting to trick users into signing malicious transactions that drain their crypto wallets. Polychain Capital has urged users to avoid interacting with Carlson-Wee’s Twitter handle until further notice.

This incident is part of a larger trend of cryptocurrency phishing scams, which have exploited 324,000 victims and resulted in nearly $300 million in losses in 2023, according to a recent report by security platform Scam Sniffer. These scams often involve hackers posting malicious links to trick users into clicking on them and falling for their schemes.

This is not the first time that high-profile figures in the crypto industry have been targeted by hackers. In September, the X account of Ethereum co-founder Vitalik Buterin was compromised, and his hacker was able to extract $691,000 from victims who clicked on a malicious link promoting a free NFT. Venture capital firm Blockchain Capital and decentralized finance protocol Compound Finance also experienced similar phishing attacks in August and December respectively, both involving promising token claims.

Polychain Capital, based in San Francisco, was founded in 2016 and manages $2.6 billion in assets. It is an investment firm that focuses on actively managing portfolios of various blockchain assets.

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