The post What do the recent hacks on Foresight Ventures and Litecoin mean? appeared on BitcoinEthereumNews.com.
Litecoin’s X account was hacked to promote a fake Solana-based LTC token, briefly reaching a $27,000 market cap before crashing to $3,400. At the same time, Foresight Ventures’ X account was hacked, linked to $500,000 raised through 15 compromised accounts, showing rising security risks. Crypto hacks happen, but the market bounces back There has been so much hacking from the Mt. Gox hack in 2014 up to hacks on Litecoin and Foresight Ventures’ X accounts in 2025. Each hack is similar; it starts with chaos, breaking trust, and lowering the market prices. Time heals most wounds as prices tend to bounce back usually stronger than before. Litecoin’s official X account was hacked on January 11, 2025. An attacker released a fake token based on the Solana network, named using the ticker LTC, via the said account. Litecoin’s X account was briefly compromised today and posts that were not authorized were published. These were live only for a matter of seconds before being deleted. We’re still investigating the issue, but immediately found a delegated account that was compromised and removed… — Litecoin (@litecoin) January 11, 2025 A post including a Solana contract address and a scam link briefly propelled the fake token’s market cap to $27,000. The value of the token, however, cratered to $3,400 after a scam alert was published. The Litecoin team regained control, deleted the post, and removed the hacked delegated account. They assured users that investigations are currently being done on the issue. At the same time, hackers accessed Foresight Ventures’ X account. It was used for promoting fraudulent activity with cryptocurrencies tied to AI. Such a hack was alarming, as Foresight Ventures has close ties to blockchain and AI projects. Yet, the team acted fast: it issued warnings and solved the problem. At the end…