Key Points
Hackers are hijacking verified X accounts of government and business entities to promote cryptocurrency scams..
Hackers are reportedly focusing their attention on verified accounts on X (formerly Twitter)..
As per a recent CloudSEK report, a novel black market has surfaced, wherein hackers trade compromised X accounts with gold and grey badges for prices ranging from $1,200 to $2,000...
However, reportedly, while X's verification and subscription system aims to significantly increase the cost and complexity of impersonation and scams, gold and grey badge accounts have paradoxically become targets for hackers and a valuable asset for cybercriminals...
Reportedly, in some cases, hackers taking control of these accounts also employ tactics such as locking out the genuine owners, opting for a 30-day gold subscription, and subsequently transferring ownership to new individuals..
