- Hackers compromised coinswitch’s official X (Twitter) account to promote a false fraud, Switch, such as its native token
- The Coinswitch team regained control of the account and deleted the fraudulent post after an hour.
In a cyber safety crime, the official X (formerly Twitter) was hacked the story of Coinswitch, one of India’s leading crypto replacements, on Wednesday during Asia’s noon. The attackers used the compromised account to promote a fraudulent solar-based token, switch, falsely claimed it as Coinwitch’s The native token sat for trade launch at 8 o’clock UTC.
Our X (previous Twitter) account (@Coinswitch) have been compromised and we work with X to regain access.
Rumors of a native token from Coinswitch are false and we encourage followers and users to disregard all messages from the compromised account until further notice …
– Ashish Singhal (@Ashish343) February 12, 2025
Coinswitch CEO Ashish Singhal confirmed the infringement over an hour after the hack and calmed users that their funds remained secure. Then the team regained access to their X account and deleted the misleading post. Singhal urged society to disregard all the claims about Switch, and emphasized that Coinswitch has no connection to such a symbol.
Further investigation revealed that the fraud was created on PumpA platform that is notorious to launch memecoins with questionable legitimacy. At the time of writing, Switch had a market capitalization of just $ 4,075 and was priced at only 0.000004168 $. The creators described misleading token as a reward system for top dealers and increased the fraud.
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