Key Points:
- Giggle Academy Twitter Hack falsely promoted P2E rewards despite CZ denying token issuance.
- Hack highlights risks of fraudulent promotions targeting crypto users.
Giggle Academy Twitter Hack reveals that the account of Binance founder CZ’s project was compromised, posting false P2E reward claims despite no token issuance.
Giggle Academy Twitter Hack Sparks Concerns
The Twitter account of Giggle Academy, an educational project owned by Binance founder Zhao Changpeng, also known as CZ, was hacked. Messages appearing on the platform, courtesy of hackers, touted rewards in a play-to-earn model as a ploy to deceive the public on the seriousness of the project. This hack was even more serious since CZ had earlier made it clear when he said Giggle Academy was not going to issue any tokens.
The incident has questioned the social media security within crypto-related projects. This hack has shown the risks of fraudulent promotions on trusted platforms. Binance and CZ have not made any official statement to address the hack or give updates about the recovery of the account, according to Yi He.
Read more: Binance Founder CZ Opens Up About His Time In Prison
No Token Issuance Despite Hack Claims
This, the hackers using Giggle Academy’s Twitter account tried luring users with assurances that rewards for P2E would be allowed. On the other hand, it clashes with what CZ had said earlier that this project would not have its independent token, which could have caused huge confusion amongst the users and financial losses.
It just goes to prove how verification through official channels is important. Users were warned against being careless with such posts and not interacting with them, or with any content that supports unauthorized token-related activity.
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Source: Coincu
