Circle Alerts Chief Strategy Officer’s Twitter Account Was Hacked

Key Points:

• Using a Twitter thread, hackers seized Circle CSO Dante Disparte’s account to promote a phony USDC airdrop to stablecoin holders.
• Disparte’s Twitter account was hacked, according to the company’s CEO, Jeremy Allaire.
• The tweets, which originated from Disparte’s hacked account, suggested that USDC holders would get a bonus after the stablecoin’s depeg earlier this month.

Hackers gained access to a Circle executive’s Twitter account and fraudulently claimed that the stablecoin issuer was executing a USDC airdrop.

Circle, the creator of the USD Coin (USDC) stablecoin, said on March 22 that its chief strategy officer (CSO) and director of global policy, Dante Disparte’s Twitter account, had been stolen. Disparte’s account apparently started offering bogus loyalty benefits to long-time USDC members in a previously deleted Tweet.

Circle CEO Jeremy Allaire acknowledged the fraudulent Twitter thread promised USDC holders a one-time bonus in the form of an airdrop.

Prior to the breach, Dante Disparte’s Twitter account published a series of tweets that seemed to address the stablecoin’s recent shift away from its dollar peg as well as the firm’s regulatory issues.

The airdrop was sold as compensation for consumers impacted by the USDC depeg, according to the false release. It also provided a link to a website with a phony claim button, which was most likely a drainer.

At the time of publishing, four Twitter postings under Disparte’s name had been erased, leaving just three posts with general remarks on the current events surrounding USDC.

The security compromise occurred less than a month after the stablecoin was momentarily depegged owing to reserve deposits held by the bankrupt US tech bank Silicon Valley Bank. USDC and other cryptocurrencies steadied after US regulators announced efforts to reduce the effects of SVB’s collapse, while Circle said that USDC was still redeemable for dollars. Since then, the situation has been remedied, and USDC has repegged.

Recently, scams on Twitter are becoming more and more popular. As Coincu reported, taking advantage of the excitement of the community when Arbitrum’s latest airdrop was going on, scammers used fake airdrop creation tricks to get users’ assets.

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Harold

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