The recent hacking of Litecoin's X account resulted in the promotion of a fake Solana-based LTC token, briefly reaching a market cap of $27,000 before crashing to $3,400. Foresight Ventures' X account was also hacked, which was linked to $500,000 raised through compromised accounts. These incidents highlight the ongoing security risks in the crypto industry. Hacks like these have occurred in the past, such as the Mt. Gox hack in 2014 and the Twitter hack in 2020, causing financial losses and impacting market prices. However, the market tends to bounce back stronger after such incidents. It is essential to improve security measures to protect against future hacks and ensure the long-term growth of the crypto market.
String of X hijacks continues as hackers access accounts of Litecoin, Foresight Ventures, and others