Lucy Powell’s X account was hacked to promote a fraudulent cryptocurrency called ‘$HCC’. This incident misled her followers, resulting in a few transactions and modest profits. The UK Parliament emphasises the seriousness of cyber security, recommending protective measures. Similar scams have risen, with over 35,000 account hacks reported in the UK this year.
Lucy Powell’s X account was compromised on Tuesday, leading to the promotion of a fraudulent cryptocurrency called ‘House of Commons Coin’ ($HCC). This incident misled her nearly 70,000 followers with posts fabricated to resemble official communications from the House of Commons, stating it was a ‘community-driven digital currency’. Following the breach, her team swiftly removed the deceptive posts and secured the account, confirming the hack.
This episode is part of a broader trend where cyber criminals exploit high-profile social media accounts to market counterfeit cryptocurrency tokens. Their methodology typically involves phishing attacks or utilising stolen credentials to take control of accounts. Subsequently, they advertise hastily created schemes aimed at duping individuals into investing, often labelled as community-driven initiatives.
Fraudsters commonly engage in a ‘pump and dump’ scheme, where promoted coins are sold to naïve investors before the creators vanish. In Powell’s case, data show only 34 transactions occurred, with a reported profit of just £225, underscoring the scheme’s limited success.
The UK Parliament reiterated its commitment to cyber security, stating that MPs receive guidance on account protection. Reports from Action Fraud indicate increasing concerns with over 35,000 incidents of hacked social or email accounts noted this year. Users are strongly encouraged to implement two-step verification and create strong, unique passwords to enhance security.
Earlier this year, BBC journalist Nick Robinson also fell victim to a similar hack, prompted by a deceptive message which resulted in posts endorsing a bogus cryptocurrency named ‘$Today’, illustrating the widespread nature of these scams.
