Summary

• Binance CEO CZ has urged crypto users to adopt hardware 2FA following the hacking of Ethereum co-founder Vitalik Buterin's X account.
• Vitalik’s X account was hijacked in a phishing attack where users were lured with a fraudulent link promising a "commemorative NFT" for free for the next 24 hours.
• The attack resulted in the theft of crypto assets worth approximately $700,000.
• CZ emphasized the importance of using common sense when evaluating content on social media and highlighted the need for enhanced security features on platforms like Twitter.

Following the Saturday midnight hijacking of Ethereum co-founder Vitalik Buterin’s X account, Binance CEO Changpeng Zhao (CZ) has sent a reminder to crypto users to utilize hardware 2FA on all crypto platforms. 

Reported by various security outlets including Peckshield, Vitalik fell victim to a phishing attack on his X account.

The attacker posted a message containing a fraudulent link, enticing users to claim a "commemorative NFT" with a promise of it being free for the next 24 hours. Although the post was removed, it managed to siphon off cryptocurrencies and NFTs valued at approximately $700,000, according to onchain sleuth ZachXBT.  

In a separate post, CZ advised users to use common sense when reading content on social media, even from large KOLs. 

“Twitter's account security is not designed as financial platforms. It needs quite a bit more features: 2FA, login id should be different from handle or email, etc. In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it (trying different passwords repeatedly). This was before the "Elon era,” he added.

This breach follows closely behind another significant incident, in which the leading online casino Stake.com fell victim to a $41 million hack.