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Crypto News - Posted on 01 March 2024 Reading time 5 minutes
DIGIVESTASI - X MicroStrategy's social media accounts were hacked and used to promote a fake Ethereum-based cryptocurrency. The incident caused unsuspecting users to lose more than $400,000 or equivalent to IDR 6.2 billion (assuming an exchange rate of IDR 15,648 per dollar).
The X account of MicroStrategy, a leading business intelligence company and the largest Bitcoin holding company, has been compromised by hackers promoting fake Ethereum-based tokens, according to a report by CryptoPotato on Wednesday (February 28, 2024). MicroStrategy hackers have announced the launch of a fake Ethereum token called MSTR.
They claim fuel prices are low and backed by the company's Bitcoin reserves. The perpetrators then posted a phishing link that sends users the new token. MicroStrategy's X account reportedly had several posts promoting the fake token and airdrop. These tweets no longer appear on MicroStrategy's official website.
This incident has left members of the crypto community wondering if the company has implemented two-factor authentication (2FA) for the X account.
On the other hand, people should have realized that the tweet was fake, given that MicroStrategy, which has always promoted Bitcoin and has one of the largest BTC warehouses, is about to release an Ethereum-based token, some said.
MicroStrategy currently owns 190,000 BTC, worth around $9.8 billion, compared to the current Bitcoin price of over $51,500.
MicroStrategy Buys 3,000 Bitcoin Worth IDR 2.4 Trillion
MicroStrategy, a software company that has made buying Bitcoin part of its corporate strategy, bought more than 3,000 more Bitcoins this month for $155.4 million or the equivalent of Rp2.4 trillion (based on an exchange rate of 15,633 rupiah per dollar).
According to a Yahoo Finance report on Tuesday (February 27, 2024), this increased the value of the company's Bitcoin holdings to around $9.88 billion or equivalent to Rp154.4 trillion based on foreign exchange market prices.
The latest purchases were made in cash between February 15 and February 25, according to a Monday filing with the US Securities and Exchange Commission. This brings the company's total Bitcoin holdings to about 193,000 Bitcoin. Michael Saylor, chairman and co-founder of MicroStrategy, started buying Bitcoin in 2020 as an inflation hedge and as an alternative to storing cash.
Saylor said in an interview on Bloomberg TV last week that he sees no reason to sell his company's Bitcoin. The price of Bitcoin has increased by about 460% since Saylor started buying. The average price of recent acquisitions is worth $51,813 or Rp810 million, and the average price of all holdings is worth $31,544 or Rp493.1 million, the filing said. Bitcoin rallied further on Monday to reach USD 54,000 or equivalent to Rs 844.2 million.
Earlier this month, when the price of Bitcoin reached its highest level in more than two years, the value of the asset surged to $10 billion (equivalent to Rs 156.3 crore).
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Source: liputan6.com
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