Lucy Powell’s X account was hacked to promote a fraudulent cryptocurrency, House of Commons Coin ($HCC). Quick actions were taken to secure the account. The hack led to around 34 transactions generating $260 in profit. Similar scams have targeted public figures previously, leveraging the credibility of their accounts.
On Tuesday, the X account of British minister Lucy Powell was compromised by hackers promoting a fake cryptocurrency called “House of Commons Coin ($HCC).” This incident was confirmed by her spokesperson, who indicated that prompt measures were taken to secure the account and erase misleading content. Powell, who has been serving as the leader of the House of Commons since July, had nearly 70,000 followers on her verified account.
The hackers exploited Powell’s account to disseminate messages about $HCC, which was falsely presented as connected to the British Parliament. Such scams typically aim to inflate a cryptocurrency’s value before trading it for profit, causing a rapid decline in value thereafter. Following this hack, there were approximately 34 transactions involving $HCC, resulting in a profit of around $260, as reported by digital asset management firm CoinShares.
CoinShares analyst Benoit Pellevoizin noted that increased media attention enabled $HCC to gain traction, with its transaction volume climbing to $55,000 from just $7,000 earlier that day. This type of cyber-fraud is not new; public figures’ social media accounts are frequently targeted to endorse fraudulent crypto initiatives. Recently, the X account of former Ghanaian President John Mahama was similarly compromised for 48 hours to promote a scam associated with digital currency “Solana Africa.”
The increasing realism of such scams can be traced to legitimate endorsements from high-profile figures in the crypto space, such as Donald Trump and Argentine President Javier Milei, who have used their social media accounts to promote crypto projects, resulting in significant financial losses for investors.
