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Hackers potentially took control of the official X account of Myanmar’s military junta leader on Saturday, using it to promote a fraudulent cryptocurrency. This incident could be the part of a growing trend where scammers exploit high-profile political figures to add credibility to scam tokens, deceiving unsuspecting investors. Another Political Crypto Scam Now Targeting the Myanmar Government On February 22, the X (formerly Twitter) account belonging to Myanmar’s junta leader, Min Aung Hlaing, began posting about a so-called national cryptocurrency launch. The posts described it as “Myanmar first national crypto,” attempting to present it as an official digital asset. Myanmar’s Junta Leader Promotion of Meme Coin. Source: X/Min Aung Hlaing Crypto users on X quickly noticed irregularities. The hackers initially shared multiple cryptocurrency wallet addresses before deleting them. Soon after, they claimed the launch was postponed and provided a new wallet address, raising further suspicion. “This account from the government of Myanmar has been hacked . Dropped several CAs and deleted, as well as announcing a space then deleted 3 minutes later,” one user wrote on X. Meanwhile, market observers questioned whether a military-led government could successfully launch a cryptocurrency. They noted that such an initiative contradicts the principles of decentralization. One user pointed out that state-backed digital assets often serve as a tool for financial control rather than innovation. The analyst also speculated that countries under economic sanctions might explore cryptocurrency as a way to bypass traditional financial systems. “Signals a shift: more nations exploring state-backed crypto to sidestep sanctions & SWIFT dependence Geopolitically, it’s a test case If it works, expect more isolated regimes to follow This isn’t about innovation but it’s about sovereignty vs financial gatekeeping,” Cedric Beau stated. Meanwhile, this attack on Myanmar’s junta leader follows a broader pattern of cyber threats targeting political figures. Earlier…

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Filed under: News - @ February 22, 2025 3:15 pm