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Minister’s Twitter Account Hacked to Promote Cryptocurrency Scam
Lucy Powell, the UK government minister, has fallen victim to a hacking incident that led to her X (formerly Twitter) account being used to promote a fraudulent cryptocurrency known as “House of Commons” coin.
The compromised posts, now removed, described the digital currency, designated as “$HCC,” as “a community-driven digital currency bringing people’s power to the blockchain.” The incident was confirmed by Powell’s office on Tuesday morning, stating that “steps were taken quickly to secure the account and remove misleading posts.”
This breach highlights a growing trend of high-profile figures being targeted online. Other notable personalities, such as BBC journalist Nick Robinson, have similarly experienced hacking attempts aimed at exploiting their influence.
Powell, who serves as the MP for Manchester Central and has nearly 70,000 followers on X, has held the role of House of Commons leader since Labour came to power last summer. This position includes overseeing the government’s legislative agenda and advocating for the rights of backbench MPs.
The method of hijacking accounts to push scam cryptocurrencies has become alarmingly common among cybercriminals. Attackers often gain access through phishing emails designed to deceive users into providing login credentials. Additionally, cybercriminals may leverage stolen data from previous security breaches to compromise accounts.
Once they secure control of an account, hackers can quickly promote newly fabricated crypto coins, created in just a few hours, with the hope that the legitimacy of the account will entice followers to invest.
Luke Nolan, a senior research associate at CoinShares, an asset management firm focused on digital assets, labeled the incident involving Powell’s account as a clear example of a “pump and dump” scheme. In this fraudulent practice, creators inflate the coin’s market value to attract investments before selling off their stakes, leaving later investors with virtually worthless assets.
Nolan noted that the $HCC coin had seen only 34 transactions, amounting to a potential profit of around £225 for the perpetrators.
A spokesperson for the House of Commons stated, “The UK Parliament takes cybersecurity extremely seriously. We provide advice to users—including Members—regarding the risks and how to manage their digital safety; however, we do not disclose specific details concerning our cybersecurity policies.”
According to Action Fraud, reports of hacked social media and email accounts surged to 35,343 earlier this year, signaling a troubling escalation in cybercrime. They recommend implementing two-step verification and utilizing strong, unique passwords composed of random words to enhance security.
Earlier this year, Nick Robinson experienced a similar hacking incident when he mistakenly clicked on an email he believed was from the social media platform, resulting in his account being used to promote a fictitious cryptocurrency called “$Today.”
Source
www.bbc.com