Lucy Powell’s X account was hacked to promote a fake cryptocurrency, $HCC. The incident reflects a rise in cyberattacks targeting public figures. Experts warn about the threats of “pump and dump” schemes in the crypto market and underscore the importance of robust cybersecurity and safety measures for online accounts.
Lucy Powell, Leader of the House of Commons, has recently been a victim of a social media hack, with her X account compromised to promote a fraudulent cryptocurrency scheme. The attack resulted in a series of now-deleted posts advertising a false digital currency dubbed “House of Commons” ($HCC), misleadingly promoted as a community-driven blockchain project.
Powell’s office confirmed the breach occurred on Tuesday morning, prompting immediate efforts to regain account control and remove the fraudulent postings. This incident exemplifies a trend of similar attacks on public figures with significant online followings, including BBC journalist Nick Robinson, whose account was also hacked for promoting a cryptocurrency scam.
The deceptive posts on Powell’s X account, which has nearly 70,000 followers, included images of the House of Commons logo, which lent an air of legitimacy to the scam. Cybercriminals typically use phishing emails or exploit data breaches to seize account control, thereafter promoting quickly conceived, worthless cryptocurrencies to unsuspecting investors.
Experts express concern over these “pump and dump” schemes, which aim to artificially inflate crypto values, encouraging investments before the scammers liquidate their holdings, resulting in the coin’s devaluation. An analysis of Powell’s case indicated a limited number of transactions, suggesting modest financial gains for the perpetrators.
The House of Commons emphasised its commitment to cybersecurity, providing digital safety guidance to users, especially Members of Parliament. Action Fraud has indicated a rise in social media and email hacking incidents in 2024, reinforcing the necessity of robust, unique passwords and two-step verification practices for safeguarding online accounts.
Nathaniel Jones, VP of Security & AI Strategy at Darktrace, stated that Powell’s account hack highlights an increasing trend of cybercriminals targeting high-profile individuals and institutions. He noted the evolving tactics of fraudsters in the crypto sector, labelling the need for integrated security in platform operations as critical. The anonymity inherent to cryptocurrency complicates tracking and investigating fraud, necessitating urgent attention to the sector’s security measures.
