The cryptocurrency world was jolted earlier this month when reports emerged of a cyberattack on Tron DAO X, leading to an estimated $45,000 in losses. The breach, confirmed by Tron’s public relations team to Cointelegraph on May 2, involved unauthorized solicitations for promotional payments via their X account—an alarming reminder of the vulnerabilities in digital finance communications.
The Tron DAO X Breach: Unraveling the Intrusion
The Tron team acted swiftly. According to their statement, the security team was quick to sever the hacker’s access, but not before the attacker posted a fraudulent contract address and sent direct messages soliciting funds under the guise of legitimate promotional activities. “We ask the community to remain vigilant,” they emphasized, underscoring that Tron will never solicit payments through direct messages or similar channels.
Intriguingly, while the hack’s mechanics are still under investigation, there are “some similarities” to another high-profile breach of the New York Post’s X account on May 3. Tron representatives, however, cautioned against drawing premature connections between the two incidents. The breach appeared to stem from a malicious social engineering attack targeting a team member, leading to the compromise of their account—an all-too-common tactic in the cyber underworld.
Curve Finance and the Broader Trend of X Account Breaches
Adding to the growing list of compromised X accounts, Curve Finance, a decentralized lending protocol, suffered a similar fate. On May 5, a bad actor took control of their account, posting a link to a fraudulent CRV airdrop. This incident, fortunately, was thwarted by alert users who quickly flagged the scam, prompting an investigation by Curve’s cybersecurity team, including the group SEAL. This incident is part of a broader trend, as highlighted in Crypto losses spike 1,100% in April with 5th-largest-ever hack: CertiK, which underscores the increasing frequency and scale of such breaches.
Michael Egorov, founder of Curve Finance, confirmed the unauthorized access in a response to analyst CrediBULL Crypto, noting that although the X account was compromised, no other systems appeared to be affected. The hacker had not only spread false links but also blocked users who attempted to expose the breach. As of now, the precise method of account takeover remains shrouded in mystery, with Curve’s team stating there was “no sign of any client-side compromise.”
A Pattern of Social Media Vulnerabilities
These incidents are part of a disturbing pattern of social media vulnerabilities exploited by cybercriminals. Earlier this year, Member of UK Parliament Lucy Powell’s X account was hijacked to promote a fraudulent cryptotoken. In March, Kaito AI and its founder Yu Hu found themselves in a similar predicament, with their accounts used to falsely claim that Kaito wallets had been compromised.
The ramifications of these breaches are far-reaching. They highlight the persistent threat of social engineering attacks, where human error or manipulation often opens the door for cybercriminals. As digital finance continues to expand, the security measures surrounding these platforms must evolve to meet the growing sophistication of hackers. For insights into potential solutions, see Restaking can make DeFi more secure for institutional traders, which discusses how restaking could enhance security in decentralized finance.
Looking Ahead: The Quest for Digital Security
The incidents involving Tron DAO X and Curve Finance serve as stark reminders of the critical need for robust security protocols in the rapidly evolving landscape of cryptocurrency. As the industry grows, so too does the allure for cybercriminals seeking to exploit vulnerabilities for financial gain.
Tron continues to work with law enforcement to track down the perpetrators, while Curve Finance’s recovery efforts underscore the importance of swift response and community vigilance. Yet, the question remains: can the industry keep pace with the ever-evolving tactics of cyber attackers? As we look to the future, the need for increased security measures and heightened awareness among users cannot be overstated.
Source
This article is based on: Tron says DAO X hack cost victims $45K, Curve Finance also hit
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
