The post Eliza founder speaks out after hack causes investor wipeout appeared on BitcoinEthereumNews.com.

Shaw, founder of ai16z (now rebranded as Eliza), had his official X account hacked on Sunday which led to a scam crypto launch ending with the pump and dump. Attackers promoted a fraudulent Solana-based token, ELIZA, through the hacked account. The scam token ELIZA surged to $0.01162 before collapsing 15% to $0.01008 as investors caught on. ai16z’s (now Eliza) official account denied any connection to ELIZA. It urged the users to avoid Shaw’s compromised account. However, Shaw regained control of his X account, calling the hack a well-designed and targeted attack. Eliza founder’s X hack triggers panic sell-off Shaw, in an X post stated that he doesn’t know what happened with the hack. Eliza‘s founder mentioned he had 2-factor authentication, a password manager, a strong password, and more. He apologized to all those who lost money and called the crypto space very “tiring”. An X user, Jonah, asked for more context on the matter. To this Shaw replied, that he woke up and found out that everyone had messaged him saying that his account had been hacked. He added that his wife logged into his account and deleted posts and connected accounts while he was still asleep, so he didn’t see those posts and all. I woke up and everyone DMed me saying my account was hacked, my wife logged in and deleted posts and connected accounts while I was asleep so I didn’t see it — Shaw (wartime arc) (@shawmakesmagic) February 16, 2025 Shaw’s X hack triggered panic selling among traders, which led the ai16z token to drop straight from $0.42 to lower lows of the $0.35 zone. ai16z is trading at an average price of $0.393, at the press time. Its 24-hour trading volume is up by 31% at $86.2 million. Meanwhile, the token is now down 64%…

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Filed under: News - @ February 17, 2025 2:23 pm