CoinSwitch Restores Hacked X Account
- Hackers compromised CoinSwitch’s official X (Twitter) account to promote a fake scam token, SWITCH, as its native token
- The CoinSwitch team regained control of the account and deleted the fraudulent post after an hour.
- In a concerning cybersecurity breach, the official X (formerly Twitter) account of CoinSwitch, one of India’s leading crypto exchanges, was hacked on Wednesday during Asia’s noon hours.
- The attackers used the compromised account to promote a fraudulent Solana-based token, SWITCH, falsely claiming it as CoinSwitch’s native token set for trading launch .
- CoinSwitch CEO Ashish Singhal confirmed the breach over an hour after the hack, reassuring users that their funds remained secure.
- Then the exchange’s team swiftly regained access to their X account and deleted the misleading post. Singhal urged the community to disregard any claims about SWITCH, emphasizing that CoinSwitch has no affiliation with such a token.
- Further investigation revealed that the scam token was created on Pump.fun, a platform notorious for launching memecoins with questionable legitimacy.
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