The Verge cryptocurrency boasts of being the most secure and anonymous cryptocurrency which is, in fact, built with a focus on privacy. It was fascinating and amusing to learn that its Twitter account got hacked. The Verge team, however, confirmed through their telegram channel that all the funds were secure. They emphasized further that the hacking incident only affected the social media profiles.
After the hackers obtained control of the twitter account, they began to ask the Verge community members to send Verge [XVG] to a fraudulent wallet address. To make the deal sweeter, they promised to return double the amount donated. This is a new method used by scammers to steal money from unsuspecting people. Moreover, this method is becoming common in the blockchain space.
The Verge team managed to regain control of the account in time to protect investors from losing money. The tweets from the hackers have since been deleted.
Records show that the hackers had managed to collect “donations” amounting to 195 XVG or roughly $7. The figure was obtained from the Verge, blockchain explorer.
According to Verge [XVG], the breach occurred when the hackers gained access to the personal account of one of their lead developer. They claim that the hackers took advantage of the leaked Yahoo databases which they used to access Justin Vendetta’s (lead developer) personal accounts.
Consequently, the hackers continued with the mission and managed to convince the AT&T customer support team to move the contact of the lead developer to another SIM card. Armed with the SIM card, they were able to move past the two-factor authenticator feature related to the Twitter account.
While the Verge team is trying to make sure that this unethical event does not spook the investors, the hackers are making claims that besides the Twitter hacking, they also stole 1 billion XVG coins from the secure platform. The communication representatives have refuted the claims by the hackers.
The Verge team moved swiftly to inform their followers on Twitter that the hackers have been gotten rid of and that the account is once again in Verge’s control. The Twitter messages were meant to reassure the customers that their funds are safe and there was no need to panic. The team congratulated the community for helping to spread the positive messages for assurance.
The minor hiccup briefly affected the price of Verge [XVG]; however, the downside momentum was short-lived, and the price bounced without suffering any significant losses in value. At the moment, is down 6.6% and is exchanging hands at $0.034 with the 24-hour trading volume capped at $8,101,908.
According to the official website of Verge cryptocurrency has been developed to achieve maximum decentralisation coupled with fast, scalable transactions. In addition to that, the technology delivers high levels of anonymity to ensure privacy when using the coin.