On May 26, the pseudonymous crypto trader GCR (Gigantic Rebirth) reported that his X account was hacked through a bribe paid to an X employee. This breach allowed the attackers to use his account to promote a pump-and-dump scheme involving the ORDI and LUNA2 tokens. GCR alerted his followers to the hack via an alternative X account, explaining that despite beefing up his security measures two months prior, insider corruption led to the account’s compromise.
The attackers used GCR’s account to shill ORDI, a BRC-20 token linked to the Ordinals protocol on the Bitcoin blockchain, and LUNA2, a token created to help revive the Terra Luna ecosystem after the UST stablecoin collapse in 2022. Following a post about ORDI from the hacked account, the token’s price surged from $38 to $46 on Bybit before quickly dropping back to $40.
Blockchain investigator ZachXBT commented that the hacker might be identified soon due to poor laundering of the stolen funds through centralized exchanges. The incident highlights significant security vulnerabilities and potential misconduct within X, raising concerns about the integrity of internal controls and the safety of user accounts.
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