The incident adds to a growing pattern of high-profile social media account takeovers being leveraged for financial fraud, where attackers briefly seize control of trusted accounts to lend false credibility to fraudulent crypto promotions before dumping the asset.

Details on how the account was compromised have not been disclosed, and no specific vulnerability identifiers were provided in the reporting.

• The Microsoft X account, followed by over 13 million users, was compromised on Thursday
• Attackers used the hijacked account to promote a crypto token
• The scheme is described as a pump-and-dump operation
• The attackers remain unidentified

Account owners and administrators of high-visibility social media profiles should review their security posture, including multi-factor authentication and access controls, given the recurring targeting of large accounts for crypto fraud.

Source: Unknown

What steps is your organization taking to secure corporate social media accounts against this type of takeover?