CoinSwitch Recovers Hacked X Account and Rejects Token Launch

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  • Hackers hijacked CoinSwitch’s X account, pushing a fake coin—SWITCH.
  • Swiftly, CoinSwitch regained control, wiped the nonsense, and reassured users.

On a particularly thrilling Wednesday, one of India’s largest crypto exchanges, CoinSwitch, was assaulted by the digital underworld. The poor exchange’s verified X (formerly Twitter) account was seized by some not-so-gentle hackers who decided to peddle a fraudulent token called SWITCH. The hackers had the audacity to proclaim it as CoinSwitch’s very own native coin, poised to launch any second.

The fraudsters posted their lies in the early afternoon, as the winds of Asia whispered sweet nothings. Their post made it sound as if SWITCH, a coin with the finesse of a Solana-based token, was destined for the moon—specifically to launch at 8 AM UTC. But, in an unexpected plot twist worthy of a Hollywood thriller, CoinSwitch reclaimed its social media throne just one hour later and nixed the mischief. So much for that scam!

CoinSwitch Clamps Down After the Hack

CoinSwitch’s CEO, Ashish Singhal, heroically confirmed the breach with the calmness of a man who had seen it all, assuring the trembling masses that no funds or sensitive data were harmed. His message was clear: don’t buy into the SWITCH hoax. CoinSwitch’s exchange wasn’t linked to that nonsense.

A quick dive into the backwaters of the web showed that the scam token had made its home on the ever-suspicious Pump.fun, a notorious den of memecoins. At its peak, SWITCH had a market cap smaller than a speck of dust—$4,075 to be exact—and was worth a mere $0.000004168. But wait! At the time of writing, this phantom token had taken off, rising to $0.0005497, surging by 3.66%. A rally? Or just a scam’s last gasp? You decide. The thieves even had the gall to claim it was a reward system for loyal traders. Oh, how genuine.

As digital warfare continues to plague the cryptocurrency realm, social media has become the primary battleground. Hackers are hijacking profiles with ease and spreading tales that belong more in a fantasy novel than in the crypto world. This attack is a stark reminder: security, education, and skepticism are key to surviving in this mad, mad market.

In response, CoinSwitch bolstered its defenses and urged its users to verify all official information exclusively through its legitimate channels. It also asked the community to report any suspicious activity, though something tells me they’ll be busy sifting through a fair amount of fraudulent schemes.

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2025-02-14 00:45