a16z recovers hacked X account… Hacker exploited it to promote scam tokens

Heecheol Yang

Summary

a16z announced that it has recovered its official X account, which had fallen victim to hacking.
The hacker used the account to promote scam tokens based on Solana (SOL) and post malicious links, causing prices to briefly surge before dropping 90% in a pump and dump pattern.
a16z clarified that all token promotions posted during the hacking period were unrelated to the firm, and apologized to investors for the confusion caused.

Virtual asset (cryptocurrency) venture capital firm a16z has announced that it has restored its official X (formerly Twitter) account, which had suffered a hacking incident.

According to CryptoNews, a media outlet specializing in virtual assets, on the 18th (local time), a16z's official X account was hacked and used to promote fake Solana (SOL)-based tokens and related content. (Unauthorized access was allowed.) Earlier that day, after seizing control of the account, the hacker posted malicious links and fake promotional materials claiming to launch their own tokens to over 850,000 followers.

According to the outlet, the price of the scam token temporarily surged after the post, but then dropped by 90%, following a typical pump and dump pattern.

After recovering the account, a16z stated on X, "Our X account was briefly compromised," and added, "Any token promotion or other content posted during the hacking period is unrelated to a16z. We apologize for any confusion caused by those who temporarily took over the account."