Recently, a cyber attack targeted the official account of the KAITO project and the personal account of its founder, Yu Hu, on the X network, appearing to be part of a market manipulation scheme. Attackers spread false information claiming that KAITO wallets were compromised, causing panic among investors and a decrease in token price. This attack occurred while Yu Hu was asleep, indicating precise planning by the attackers for maximum impact. After regaining control of the accounts, Yu Hu emphasized that KAITO wallets are secure and investigations into this security breach are ongoing. Following the spread of these rumors, KAITO’s price dropped to $1.30 but returned to $1.50 after information correction, showing a 15% growth from its lowest daily level. At the time of writing, KAITO’s price has stabilized at $1.41, representing an 8.5% growth from the initial drop. Analysis reveals that attackers made around a million dollars in profit from this attack, with $300,000 directly from KAITO-related transactions. This incident highlights how cyber attacks on X accounts for digital currency price manipulation have become a trend. According to DeFi Warhol, a market analyst, hackers first set up their trading positions and then release fake information to profit from price changes. Once again, this emphasizes the importance of verifying information from credible sources and avoiding hasty reactions to unconfirmed rumors. On the real-time digital currency price page, you can monitor the prices of all tokens and cryptocurrencies live and instantaneously.
