MicroStrategy, known as the largest corporate holder of Bitcoin, faced a significant cyberattack on its X account on February 26th. The breach resulted in hackers posting a fraudulent message promoting a fake token named “MSTR,” leading to the theft of nearly $500,000 in cryptocurrency. Although MicroStrategy promptly removed the deceptive post, a copy was preserved by a crypto personality identified as Spreek.
The hackers’ scheme involved attempting to deceive users into believing that MicroStrategy was distributing a new Ethereum-based token called MSTR. Clicking on the provided link and entering credentials would purportedly grant access to “free MSTR,” a claim intended to lure unsuspecting victims into the scam.
While the full extent of the breach remains unclear, an investigation led by blockchain investigator ZachXBT suggests that the scammers may have obtained over $440,000 in crypto thus far. Transaction records linked to the alleged hacker’s address indicate that a significant portion of the stolen funds has been laundered, with transfers directed to various exchange platforms including KyberSwap, ParaSwap, and POKT Network.
As of the time of reporting, MicroStrategy has not issued any official statements regarding the incident. This alarming development comes just days after MicroStrategy founder Michael Saylor reaffirmed his commitment to maintaining the company’s substantial Bitcoin reserves, which currently exceed 190,000 BTC, valued at over $9.7 billion.
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