Uniswap (UNI) Founder Falls Victim to Twitter Hack

The Twitter account of Hayden Adams, founder of the decentralized cryptocurrency exchange operating on the Ethereum blockchain, Uniswap (UNI), suffered a security breach on Thursday, resulting in a series of tweets containing phishing links. Crypto Exploits Plague Industry Fraudsters have terrorized the crypto industry for years, stealing digital assets, attacking exchanges, defrauding investors and stealing ... Read more

Jul 23, 2023 - 18:34
Uniswap (UNI) Founder Falls Victim to Twitter Hack

The Twitter account of Hayden Adams, founder of the decentralized cryptocurrency exchange operating on the Ethereum blockchain, Uniswap (UNI), suffered a security breach on Thursday, resulting in a series of tweets containing phishing links.

Crypto Exploits Plague Industry

Fraudsters have terrorized the crypto industry for years, stealing digital assets, attacking exchanges, defrauding investors and stealing a user’s password or private keys, among several other malicious tactics.

With the emergence of decentralized finance (DeFi), hackers have also targeted smart contract platforms. As a matter of fact, hackers have been getting more sophisticated with their attacks along with the increase in crypto adoption across the globe.

According to on-chain data compiled in the quarterly report by the blockchain security company CertiK, more than $300 million in digital assets were lost to crypto hacks and exploits in the second quarter of 2023. Recently, Rodeo Finance, an Arbitrum (ARB) based DeFi protocol, fell prey to an oracle manipulation attack that resulted in a loss of about 810 Ethereum (ETH), approximately worth $1.5 million. 

Uniswap Founder Loses Control of Twitter Account

In the latest scam, Uniswap’s founder faced a Twitter account hack on July 20, 2023 and was used to post phishing links, A tweet from Adam’s account was sent falsely claiming that the platform’s Permit2 contract had been “affected by an unknown exploit” and users’ tokens were at risk, encouraging them to click on a malicious link.

Meanwhile, another tweet noted that Adam had called on UniswapX users to check if they were eligible for gifted UNI tokens by going to a site hosted in Russia. That website had been registered the day of the hack.

Uniswap Founder Loses Control of Twitter Account

Responding to the attack, several others have suggested that it could have been a “SIM swap attack.” A SIM swap hack is when attackers take over a victim’s phone to assume their identity. With this information, they can gain access to bank accounts, crypto accounts, and social media accounts.

On July 21, Uniswap reported the incident, warning users not to click on any links, adding “There is no giveaway, airdrop, or bounty. The Protocol has not been hacked or exploited.” Around six hours after the alert from Uniswap, its founder took to Twitter to reveal that he has regained control of his account again. Adams wrote,

“Appreciate everyone who helped out tonight, and the effort people put in to help with takedowns, warnings, etc. Will follow up with updates when ready.”

Hackers Turn to Twitter

Of late, hackers have been increasingly targeting Twitter accounts to carry out their malicious plans. Cryptocurrency exchange, KuCoin’s official Twitter account was hacked in the early hours of April 24, resulting in asset losses of nearly 22,638 USDT.

Shortly after the incident, Sandbox CEO Arthur Madrid endured a similar attack when attackers used his Twitter account to promote a fake airdrop phishing scam. In June, a SIM-swap hack compromised crypto influencer Ben Armstrong’s Twitter account.  Furthermore, on June 1, Mira Murati, the chief technology officer of OpenAI, lost control of her Twitter account that was used to promote a fraudulent cryptocurrency scheme.

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