MicroStrategy’s X account hacked, $440k drained from victims via fake MSTR airdrop

Hackers breached MicroStrategy’s X account, sharing a scam link that led to the theft of nearly $500k in crypto.

MicroStrategy, the world’s largest corporate Bitcoin holder, fell victim to a cyberattack on its X account on Feb. 26, with hackers posting a message promoting a fake “MSTR” token, leading to the theft of nearly $500,000 in crypto. While MicroStrategy swiftly removed the deceptive post, a copy was preserved by a crypto personality identified as Spreek.

According to screenshots, the hackers attempted to deceive users into believing MicroStrategy was distributing a new Ethereum-based token called MSTR. Clicking the provided link and entering credentials would grant the scammers access to steal “free MSTR.”

Although the full extent of the breach remains uncertain, an investigation led by blockchain investigator ZachXBT suggested that the scammers may have garnered over $440,000 in crypto so 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 press time, MicroStrategy has not issued any official statements regarding the incident.

The latest development just days after MicroStrategy founder Michael Saylor reaffirmed his commitment to holding the company’s significant Bitcoin reserves, currently exceeding 190,000 BTC valued at over $9.7 billion.