Blockchain network TRON experienced a breach of its account on the popular social media platform X, which it has attributed to a social engineering attack. After regaining control of their account, the team took to the platform to acknowledge the breach and warn users of the unauthorized activity perpetrated by the hackers.
As per the post, the hackers not only posted a contract address but also sent out direct messages to several individuals and started following unknown accounts. TRON is urging its users to ignore and delete any direct messages received from its account on May 2, cautioning that these were not sent by the team but by the attacker.
The team also revealed that the attack was facilitated through a social engineering attack on one of the TRON DAO team members. Once the hackers gained control of the member’s account, they were able to continue interacting with others and even offering posts for payments, notwithstanding the team regaining account control.
In response to the incident, TRON DAO has initiated an investigation and has reportedly identified several addresses linked to the perpetrator on social media platform X and messaging app Telegram. They have also reached out to law enforcement agencies for intervention.
In the wake of the breach, TRON founder Justin Sun turned to cryptocurrency exchange OKX, requesting them to freeze funds linked to the address associated with the hack. Sun alleged that the stolen funds were transferred to a wallet on OKX. However, his claims were refuted by OKX’s CEO, Star Xu, who insisted that they had not received any official communication substantiating the freezing order.
Despite the recent security breach, TRON has been experiencing a positive trend. The network recently launched a new version of its Kant mainnet upgrade, which enhances its compatibility with Ethereum and fortifies network security. This upgrade includes a reconstruction of the contract event system and optimization of nodes and API performance.
TRON’s network activity has surged, with the total number of addresses reaching an impressive milestone of 304 million. Reflecting this increased activity, the network recorded the highest fees of all blockchains in April, surpassing even Ethereum and Bitcoin.
As per data from CryptoRank, TRON generated $51.7 million in fees last month, outperforming Hyperliquid and Solana, which recorded $49.2 million and $36.9 million respectively. TRON’s native token, TRX, has also been performing well, securing its position as a top ten crypto asset with its market cap standing at $23.29 billion. Despite a year-to-date decline of 3.78%, the token has seen a 4% increase in the last 30 days.
