Algorand Foundation CEO Hacked On X, Mocks Tron's Justin Sun

Updater face
Last updated Jan 26, 2024 | 03:58 PM UTC

Algorand Foundation CEO Staci Warden today, 26 January, had her Twitter account taken over by a hacker who is now posting odd and satirical messages about Algorand (ALGO), and Justin Sun of Tron.

“Be Real”

Starting with a post using a racial slur urging users to “be real” and sell ALGO in favor of Ethereum (ETH), the hacker has gone on to post a pretty funny post about how Tron founder Justin Sun and True USD (TUSD) would “boost Algorand to new heights”.

Staci.algo tweet

According to the hacker, he satirically alleged that Sun’s projects will cause the next “major collapse in crypto.” The hacker's final post reads:

Staci.algo tweet
The hacker also changed her bio to say: ”Exited Algorand Foundation. Drained 6 figures from my customers and gaslit them into thinking it was a hack,” referring to the $9.6m in exploits that Algorand-native wallet, MyAlgo, was suffering through in February 2023.

Though motives are unclear, we are yet to see if the hacker will post anything else of merit, or if this will be leading anywhere more significant. Though so long as it remains relatively harmless, it’ll have the eye of the crypto community enjoyably following its every move.

Taking control

Hackers taking over social media accounts isn’t anything new. In September 2023, Ethereum co-founder Vitalik Buterin had his account compromised following a SIM-swap attack. Seemingly, the hacker had nefarious intent after posting a scam link that caused users to lose somewhere around $690,000 in assets.

Consensys tweet
On 5 January, crypto auditor CertiK also had their Twitter platform overtaken by a hacker who posted a fake Revoke Cash link that redirected victims to a well-designed phishing website that was a wallet drainer.

Revoke.cash tweet
A less malicious hack occurred ahead of the US Securities and Exchange Commission's (SEC) decision to approve spot Bitcoin (BTC) exchange-traded funds (ETFs) when a hacker somehow managed to take over the SEC’s Twitter, posting a picture of chairman Gary Gensler approving BTC ETFs two days ahead of their actual approval. 
SEC tweet

Algorand (ALGO) Price

It could be argued that the hacker’s plans have backfired, as ALGO has enjoyed some pretty solid gains in the last 24 hours. Presently the coin is trading at $0.16 up from a year-long low of $0.08. In that same period, the token has added a few percentage points to its total market cap which sits at $1.33bn at the time of writing.

Algorand (ALGO) daily chart
 

Written by

Eddie is a seasoned crypto writer and Bitcoin maximalist.