Litecoin’s official X account was hacked, used to promote a fraudulent Solana-based token with the LTC ticker, causing a temporary market cap surge to 27,000 USD, which soon dropped to 3,400 USD. Hackers employed phishing tactics disguised as X team messages, highlighting a broader issue with breaches in social media platforms targeting cryptocurrency projects.

This incident follows a trend where cybercriminals target social media accounts of notable cryptocurrency projects, like the Cardano Foundation, using them to spread misinformation or scams. Reports indicate significant financial losses occurred in previous attacks, with phishing emails posing as official communications to extract user credentials and access sensitive accounts.