Verge Coin, a cryptocurrency which focuses on privacy got their Twitter account hacked yesterday. Once the account was hacked, the hacker posted a tweet asking people to “Donate” XVG and receive double the amount in return a few hours later.
A few minutes later, the hacker bragged about hacking a lead developer of the privacy focused coin and steal 1 Billion XVG token. This has been a tactic which has been rampant on Twitter lately. Hackers have created accounts which looks similar to the official one, and ask people to deposit money in it. But this time around, they managed to get access to the original account and asked people to deposit.
But this hack was extremely unsuccessful mainly because Verge is not as popular as Bitcoin and Ethereum. Or that Verge’s Twitter followers knew better.
According to Verge, hackers used the leaked Yahoo database to gain access to personal accounts of lead developer Justin Vendetta. Then, they managed to get AT&T to transfer his number to a different SIM card, thus compromising Twitter’s Two-Factor security. Also, the official Verge team has claimed that no XVG tokens were stolen in this hack.
Verge is a cryptocurrency which was launched last year and shot to prominence when John McAfee tweeted about it. At the time of writing this article, Verge is priced at $0.03 and the hack did not have a significant effect on the price.