Ethereum drops to lowest price in 6 months after cryptocurrency creator is hacked

Vitalik Buterin's X (formerly Twitter) account was targeted by phishing over the weekend
Ethereum (ETH) fell to its lowest price in six months after the cryptocurrency's co-founder, Russian-Canadian businessman Vitalik Buterin, had his profile on X (formerly Twitter) hacked over the weekend.
At around 7:40 am this Monday (11), the second largest digital asset on the market is trading at US$1,587, after falling 2% in the last 24 hours. For the week, ETH accumulates losses of almost 3%.
On Saturday (9), virtual criminals hacked Buterin's account and posted a message with a malicious link, announcing a false free distribution of non-fungible tokens (NFTs).
It was a classic phishing scam, a technique through which scammers use social engineering to deceive users and obtain confidential information.
In this specific case, criminals accessed data from the wallets of people who clicked on the link, capturing almost US$700,000, according to data published by a blockchain researcher identified on X as ZachXBT.
“Vitalik’s Twitter account was hacked. Use common sense when reading content on social media, even from large KOLs (an acronym for opinion leaders)”, wrote Binance CEO Changpeng Zhao on Sunday (10).
Zhao, known as “CZ”, also said that X's account security was not designed like that of a financial platform, and that he has also been the victim of an attempted attack.
“In the past, my Twitter account was blocked a few times because hackers used 'brute force' (an attack whereby scammers try to access a system using different passwords repeatedly). This was before the “Elon era [Musk] ”.