Minister’s Social Media Account Hacked in Cryptocurrency Scam
In a recent cybersecurity incident, UK Government Minister Lucy Powell’s social media presence was compromised in an elaborate cryptocurrency scam. The breach, which occurred on a Tuesday morning, involved fraudulent promotion of a fictitious “House of Commons” digital currency, as reported by multiple news sources on Wednesday.
Deceptive Cryptocurrency Scam Targets Government Official
Hackers exploited Powell’s verified social media account to disseminate false information about a digital currency named “$HCC,” described as a “people-powered digital currency putting people’s power to the blockchain.” With nearly 70,000 followers, Powell, who serves as the Leader of the House of Commons and represents Manchester Central, became an unwitting participant in the scam.
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To enhance the illusion of legitimacy, some posts featured the official House of Commons logo. Powell’s office responded swiftly to secure the account and remove the misleading content once the breach was detected.
Cybercriminals Utilize Advanced Tactics in High-Profile Hacks
This incident is part of a recurring pattern where hackers target public figures with substantial social media followings. Earlier in the year, BBC journalist Nick Robinson fell victim to a similar scheme, where his account was used to promote a fake cryptocurrency called “$Today.” Robinson inadvertently granted hackers access by clicking on a deceptive email purportedly from the social media platform.
Traditional ‘Pump and Dump’ Scheme Unfolds
According to Luke Nolan, a senior research associate at CoinShares, the hack mirrored a classic “pump and dump” scheme. Such scams involve creating valueless cryptocurrencies, artificially inflating their prices, encouraging investments, and then selling off holdings before the inevitable crash.
Despite the high-profile nature of the target, the scam achieved limited success, attracting only 34 transactions and yielding approximately £225 in profits for the perpetrators.
Rising Instances of Account Hacking
The trend of hacking social media and email accounts is on the rise, with Action Fraud reporting 35,343 incidents in 2024 alone. Security experts suggest that many attacks originate from phishing emails containing links to counterfeit websites designed to steal passwords or gain unauthorized access to systems.
Additionally, data breaches can expose users’ information, which scammers exploit to access accounts. Once inside, they can quickly create and promote fake cryptocurrencies.
The UK Parliament emphasizes the importance of cybersecurity and advises members on maintaining online safety. However, they declined to disclose specific security measures. Action Fraud recommends enabling two-step verification and using strong, unique passwords composed of three random words.
Lucy Powell, who took on the role of Leader of the House of Commons when Labour assumed power in the summer, is responsible for managing the government’s legislative agenda and protecting the rights of backbench MPs.
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