The Twitter account of Dante Disparte, who serves as both the chief strategy officer (CSO) of Circle and the director of global policy for the company was hacked, as stated in an official tweet published on March 22 by Circle — the company that issues the USD Coin (USDC) stablecoin. The scammer reportedly began pushing bogus loyalty benefits to long-time customers of USDC after gaining access to the account which has since been deleted.

Circle’s CSO Twitter Account Hacked

Following the historical depeg of the stablecoin earlier this month, the tweets originated from Dante Disparte’s account which suggested that USDC holders would be eligible for a bonus. According to the hacked account, customers of USDC would receive their “one-time bonus” in the form of an airdrop which could be claimed by providing crucial info regarding a user’s crypto wallet.

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The team at Boston is currently looking into the security breach and trying to identify the vulnerabilities that allowed the account to be accessed in the first place.

This Twitter account (@ddisparte) has been taken over by a scammer. Any links to offers are scams. We are investigating the situation and taking action accordingly.

— Circle (@circle) March 22, 2023

Circle CEO Remarks On Hack

Circle’s CEO Jeremy Allaire also took to Twitter to confirm the hack. Disparte’s account had previously tweeted about the company’s regulatory developments and its involvement in the ongoing Paris Blockchain Week before the intrusion.

@ddisparte Twitter account was hacked. https://t.co/pItTHAG9Al

— Jeremy Allaire (@jerallaire) March 22, 2023

The security vulnerability occurred a little less than a month after the stablecoin briefly depegged as a result of reserve deposits left in the custody of the now-defunct US tech bank, the Silicon Valley Bank. The problem has subsequently been fixed, and USDC has re-pegged, but there was a marginal deviation observed in USDC’s price after this recent incident.

At the time of writing, four tweets that the alleged fraudster had tweeted using Disparte’s name have now been deleted.

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The post Breaking: Circle Confirms CSO Twitter Account Hack, Promoted “One-Time Bonus” USDC Airdrop appeared first on CoinGape.

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Filed under: News - @ March 22, 2023 2:29 pm