Kaito AI, a platform that uses artificial intelligence to analyze crypto market data, and its founder Yu Hu, were recently targeted in a social media hack. On March 15, hackers gained access to Kaito AI’s social media accounts and posted messages claiming that the platform’s wallets had been compromised and users’ funds were at risk.

The hackers also opened a short position on Kaito tokens, hoping to manipulate the market and profit from panicked users selling or withdrawing their funds. However, the Kaito AI team quickly regained control of their accounts and reassured users that their wallets were not compromised.

This incident is just one in a string of social media hacks, scams, and cybersecurity threats plaguing the crypto industry. In February, Pump.fun’s social media account was hacked and used to promote fake tokens. And in March, the Alberta Securities Commission warned the public about a crypto scam using fake news articles and endorsements from Canadian politicians.

Crypto executives are also warning about a new scam from the state-sponsored Lazarus hacker group, where hackers pose as venture capitalists in a Zoom meeting and trick victims into downloading malicious software.

These incidents serve as a reminder for users to remain vigilant and cautious when it comes to their crypto assets. It’s important to always verify information and be wary of unsolicited messages or requests for personal information. By staying informed and taking necessary precautions, we can help protect ourselves and the crypto community from these threats.