The official X account of business intelligence firm MicroStrategy was recently breached by hackers, who used it to disseminate links to a fraudulent airdrop of an "official" Ethereum-based MSTR token.

Users who clicked on the links were redirected to a deceptive website mimicking MicroStrategy’s, which then prompted them to connect their wallets to claim the non-existent MSTR airdrop. Accepting the requested permissions within their Web3 wallets could then allow the attackers to siphon off tokens from the users' wallets.

Blockchain investigator ZachXBT and anti-scam service Scam Sniffer have reported that the phishing scam has already resulted in losses exceeding $440,000.

One individual alone was defrauded of over $420,000, shortly after the initial fraudulent post appeared on MicroStrategy's X account, according to Scam Sniffer. This user transferred a substantial sum in altcoins directly to the fraudsters, with part of the funds being diverted to a secondary wallet linked to the infamous PinkDrainer hacking group.

The breakdown of the stolen assets includes $134,000 in Wrapped Balance AI (wBAI), $122,000 in Chintai (CHEX), and $45,000 in Wrapped Pocket Network (wPOKT), all sent to the attacker’s wallet address. Currently, the attacker's wallet contains approximately $329,000 worth of Ethereum-based tokens, as indicated by Ethereum DeBank data.

Observers in the crypto community have highlighted the scam’s implausibility, pointing out that MicroStrategy, known for its exclusive investment in Bitcoin, would be unlikely to launch an Ethereum-based token.