The attacker hacked into the Twitter account of a large accounting company PwC Venezuela and staged a fake distribution of XRP.
The first tweet published by a hacker on behalf of PwC Venezuela contained the text “Problem, reaction, solution #XRP” with a photo of Ripple Labs CEO Brad Garlinghouse. And this was not the last tweet from the attacker – soon there were eight more like it. However, at the time of publication of the article, PwC Venezuela deleted all the hacker’s tweets.
Ripple Labs has yet to respond to the scammer’s tweets.
The danger of a new social network feature
One way attackers lure victims with phishing attacks is by replacing the original character in the URL with a Unicode character that looks very similar.
Earlier this month, social media company Twitter announced that it would be testing a new feature that would allow users to edit tweets for a limited time after they were posted. However, will this not lead to an increase in the number of crimes like PwC Venezuela on the social network?
According to one of the experts, if the tweet goes viral, the author can change its content by adding a phishing link and steal the victim’s personal information or direct it to a fraudulent site where the user will lose money.
Earlier this month, the US Federal Trade Commission reported that scammers have stolen $1 billion from crypto holders this year, with Twitter becoming a platform for luring victims.
But the company allayed concerns by reassuring the public that the tweet-editing feature was available to a small group to test how it would work.
Ripple Labs is in trouble
So far, Ripple Labs has faced setbacks in its quest to help war-torn Colombia redistribute land to indigenous people after years of civil war.
Just two weeks before newly elected President Gustavo Petro took office, the Colombian Ministry of Technology and Communications announced that it would start registering land titles on the XRP blockchain using software created by Peersyst.
But a new political ideology has shelved the idea indefinitely, as a key minister said that the digitization of land rights is not among the priorities of the Lands Agency and the Information Technology Strategic Plan.
Despite ongoing discussions between Ripple, Peersyst, and the government, it looks like the project is doomed to be thrown into the trash. So far, only one title document has been added to the XRP ledger, which was a blow to Ripple, whose partnership with the public sector could boost its public profile.
In March 2022, Ripple Labs launched a $250 million fund to support the NFT industry in partnership with the NFT marketplace and creative agencies to create low-cost, green, cross-chain NFTs.
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