The wave of cryptocurrency phishing attacks hitting X seems to never end. Just two weeks into 2025, we’re witnessing what might be the most sophisticated social engineering campaign targeting high-profile accounts on the platform this year.
I’ve spent the last 48 hours tracking this evolving situation, speaking with cybersecurity experts and affected users who found themselves locked out of their accounts after interacting with seemingly legitimate crypto offers. The pattern is disturbingly consistent.
“This isn’t your standard ‘send Bitcoin, get double back’ scam,” explains Maya Hernandez, senior threat analyst at CyberShield Research. “These attackers are using compromised verified accounts to create a convincing web of trust before deploying specialized malware that captures authentication credentials.”
The current attack begins with a compromised verified account—often belonging to tech influencers with substantial followings—posting about an exclusive cryptocurrency opportunity. What makes this particular campaign dangerous is the sophisticated social proof the attackers build around their offers.
When examining the accounts involved, I noticed they first post several legitimate-seeming crypto analyses before introducing the malicious link. The attackers maintain the original account’s posting style and often reference past tweets to maintain authenticity.
According to X’s Security Operations team, over 230 verified accounts have been compromised in the last week alone. The platform is scrambling to implement additional verification steps for password resets, but the damage continues to spread.
Dave Lowell, who runs a tech startup in Boston, described his experience after clicking one of these links: “It looked completely legitimate—the page asked me to connect my wallet to verify eligibility for an airdrop. Within minutes, my X account was posting the same scam, and I was completely locked out.”
The technical sophistication behind this attack is concerning. Unlike previous campaigns that simply requested cryptocurrency transfers, this one deploys a multi-stage attack. First, it harvests X credentials through a convincing login page. Then, it attempts to install a browser extension that monitors for crypto wallet activity.
“What we’re seeing represents a significant evolution in social media-based cryptocurrency scams,” notes Dr. Samuel Rivera of the Internet Security Alliance. “The attackers are investing considerable time studying their targets before launching the payload, making the social engineering aspects particularly effective.”
The financial impact has been substantial. Based on blockchain analysis from CryptoTrace, the attackers have siphoned approximately $3.7 million in various cryptocurrencies since January 3rd. Most victims lost between $1,200 and $8,000, though several high-value wallets were drained of over $50,000 each.
Cybersecurity professionals point to several red flags users should watch for:
- Unexpected cryptocurrency promotions, even from accounts you trust
- Time-limited offers requiring immediate action
- Requests to connect wallets or provide seed phrases for verification
- Links to sites mimicking legitimate platforms but with slight URL variations
This morning, I observed several new variations of the attack using AI-generated videos where deepfaked versions of well-known crypto personalities appear to endorse the scam. The sophistication keeps escalating.
X’s response has been criticized as inadequate by many security experts. While the platform has implemented additional security measures for verified accounts, including mandatory two-factor authentication, ordinary users remain vulnerable.
“Platform security shouldn’t be a premium feature,” argues Hernandez. “The authentication mechanisms available to everyday users haven’t meaningfully improved in years, despite the increasing value of social accounts to attackers.”
For users who’ve been compromised, regaining account access has proven frustrating. Several victims I interviewed reported waiting more than 72 hours for support responses, during which time their accounts continued spreading the malware.
Protection remains largely preventative. Cybersecurity experts unanimously recommend enabling two-factor authentication using an authenticator app rather than SMS, creating unique passwords for social media accounts, and treating all cryptocurrency promotions with extreme skepticism—even from trusted sources.
As we move deeper into 2025, this attack serves as another sobering reminder that cryptocurrency’s promise of financial freedom comes with substantial security responsibilities. The digital landscape requires constant vigilance, especially when financial assets are just a click away from being compromised.
The most effective defense might simply be remembering an old rule that applies perfectly to the digital age: if an opportunity sounds too good to be true, it almost certainly is.
