Polychain Capital, a prominent crypto venture capital firm, recently confirmed that the X account of its founder and CEO, Olaf Carlson-Wee, was hacked. The hacker began promoting a fake “$PCHAIN” token airdrop, leading followers to a phishing link. This incident has raised alarm bells in the crypto community.
The hacker's post, which misleadingly celebrated a New Year's distribution, attracted attention from about 41,000 X users. Phishing scams like these often trick users into signing malicious transactions that can drain crypto wallets. The crypto industry has been particularly vulnerable to these attacks, with phishing scams exploiting nearly 324,000 victims for almost $300 million in 2023.
Polychain Capital, based in San Francisco, was founded in 2016 and managed $2.6 billion in assets as of July 2023. It is known for actively managing portfolios of various blockchain assets.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.