Lucy Powell’s X account was hacked to promote a fake cryptocurrency, $HCC, misleading her followers. The incident highlights a trend of cybercriminals hijacking prominent accounts for fraudulent schemes, including ‘pump and dump’ scams. Analysts noted minimal transactions and profit from this scam, while the UK Parliament stresses the importance of cybersecurity for MPs. Similar hacking incidents have occurred, urging users to enhance their account security measures.
Lucy Powell, UK government minister and Leader of the House of Commons, had her X account compromised to promote a fraudulent cryptocurrency named ‘House of Commons Coin’ ($HCC). The hacked account misled nearly 70,000 followers with posts that falsely described it as a community-driven digital currency, which included the official House of Commons logo. Powell’s office confirmed the breach, stating that immediate action was taken to erase the scam posts and secure the account.
This incident reflects a concerning trend where cybercriminals exploit prominent accounts to market fake cryptocurrencies. Rather than launching legitimate coins, these fraudsters often utilise phishing emails or compromised credentials to seize control of accounts, subsequently promoting hastily developed schemes to exploit users’ trust. Known as ‘pump and dump’ schemes, these fraudulent coins typically disappear once the creators profit from them.
In this instance, analysts reported that only 34 transactions were made, yielding a mere profit of £225. The UK Parliament underscored its commitment to cybersecurity, advising MPs on strategies to safeguard their accounts. Additionally, Action Fraud disclosed over 35,000 cases of hacked social media or email accounts this year and recommended the implementation of two-step verification and the use of strong, unique passwords.
Earlier this year, BBC journalist Nick Robinson experienced a similar account hack, prompted by a deceptive message that led to posts endorsing another fraudulent coin called ‘$Today’. Such cases illustrate the urgent need for heightened awareness and robust cybersecurity measures among public figures and users alike.
