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Market News

VeChain’s Swift Security Reinforcement Post Twitter Hack

According to VeChian, none of its other platforms were impacted.

Written By Jalpa Bhavsar
Published January 18, 2024 7:23 PM
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VeChain's Swift Security Reinforcement

The official X (formerly Twitter) account of VeChain posted about the account breach by the hacker on the morning of 17th January addressing the community.  

Dear community, you may have noticed we suffered a momentary account breach on X this morning.

Security is a top priority – we had 2FA enabled, with a randomly generated password – we are performing a thorough investigation to identify the vector, and will introduce new internal… pic.twitter.com/yAea5mr6iC

— VeChain (@vechainofficial) January 18, 2024

Hackers uploaded a fake airdrop message to VeChain’s X (previously Twitter) account. According to the company, “Security is a top priority.” The business has set up 2FA using a password that is generated at random.

They will be implementing new internal security policies as a result of conducting a comprehensive investigation to determine the vector.  There was no impact on any of VeChain’s other platforms.

VeChain added that their community has shown extraordinary vigilance in aiding in the warning of others and that their team responded with remarkable speed. It added, “We are grateful for all involved and pleased to see such a united response.”

Due to the efforts of the community and team of VeChain, there were only a few transactions that occurred on the VET address, and no transaction was sent to the ETH address.

The company has taken notice of the user who sent the transaction theory data, and it will reimburse the user 1:1 for the entire amount of VET Sent. The user does not have to do any action for the reimbursement. 

Also Read: VeChain and BCG Partner to Drive Sustainability Through Blockchain Technology

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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