North Korean singer Deekay Kwon’s Twitter account hacked and used to steal NFT worth $150,000

Hackers take over the crypto sphere.

As a general rule, any type of market as volatile as cryptocurrency and any other digital asset should worry about the volatile nature of the market and not worry too much about other things. But, in the case of digital assets, the market has to deal with two demons at the same time. One is naturally the volatile nature that watches and monitors investors, but there is also another demon that watches investors closely and waits for an opportunity to enter accounts and loot them of all their investments. The demon here is referred to hackers.

The incidence of hackers hacking into investors’ accounts is quite common in the market. In another series of cases, hackers come to notice that hackers hijack the social media profiles of famous personalities who have a voice over digital assets and attempt to manipulate followers to navigate to organized links to deprive them of their investments. .

In one such case, a hacker then took over a Twitter account in North Korea and stole around $150,000 in NFTs.

Korean artist NFT Deekay Kwon’s account hacked.

Credits: YouTube

Korean musician NFT DeeKay Kwon’s Twitter account has been hacked and exploited in a phishing scam. As a result, his supporters lost NFT worth almost $150,000. On behalf of DeeKay Kwon, the hacker posted a harmful link to a fake website asking users to confirm a payment in order to access an exclusive Collectible Token (NFT) giveaway.

The hacker wrote from the account: “LetsWalk Collection giveaway is now available! Only 1000 lucky people can qualify! Good luck!”

DeeKay Kwon was able to regain control of his account five hours after the attack began, remove the link to the phishing website, and issue an apology.

According to reports, the hacker had gone ahead and already sold around $90,000 worth of NFTs and transferred the ETH tokens to another wallet. Around $52,000 worth of NFTs were still in the hacker’s wallet, ready to be sold.

Writer’s analysis:

When crypto crimes occur, regulators need to address and neutralize the tragedy as soon as possible. The failure of regulators to curb the occurrence of crypto crimes, especially cyber crimes, is really not a good fit for the market at all. In my view, the market needs stronger policies and regulatory frameworks and surely needs guidance from other regulators to curb criminal incidents in the crypto sphere.

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