CoinSwitch X Account Hacked, Exchange Safe: CEO Ashish Singhal

The X (formerly known arsenic Twitter) relationship of fashionable Indian cryptocurrency speech CoinSwitch was hacked connected Wednesday greeting to beforehand a scam autochthonal token $SWITCH connected Solana blockchain. The speech CEO Ashish Singhal has assured users that the level remains unafraid and their funds are safe.

On Wednesday morning, X users were amazed to observe a station by CoinSwitch authoritative grip announcing motorboat of their autochthonal token $SWITCH. The token was made connected Solana blockchain based Pump.Fun by chartless hackers who besides announced trading to commencement from 8 americium UTC successful their X post.

More than an hr aft the X relationship of CoinSwitch was hacked, its CEO Ashish Singhal confirmed astir the breach and assured users that their funds are safe. The CoinSwitch squad besides gained entree to their X relationship and deleted the tweet claiming autochthonal token launch.

In his post, Singhal warned users to disregard immoderate messages from the hacked account, particularly rumors regarding a alleged “native token” from CoinSwitch. “The rumor of a autochthonal token from CoinSwitch is false, and we impulse followers and users to disregard immoderate messages from the compromised relationship until further updates,” helium wrote.

The squad astatine CoinSwitch is already successful interaction with X to retrieve the account. The institution added that each different operations and systems were not affected. “CoinSwitch continues to enactment arsenic usual,” Singhal said.

CoinSwitch is among the astir acclaimed cryptocurrency platforms successful India for buying and selling arsenic good arsenic tracking integer assets. In the aftermath of the information breach that has been disturbing, crypto concerns person been raised and the institution has reassured users that their information and funds are safe.

Moreover, upon further investigation, it was recovered that determination are successful full 184 holders of the scam memecoin $SWITCH with its marketplace headdress astatine conscionable $4659 and it is presently priced astatine $0.00000466. According to the creators of $SWITCH scam memecoin, it has been designed “to reward apical traders connected our platform, making trading much breathtaking and rewarding.”

Additionally, 5 memecoins by the sanction of $SWITCH person been created ever since quality broke of CoinSwitch X relationship getting hacked. Its CEO Ashish Singhal has categorically denied immoderate authoritative transportation to immoderate of the memecoins and users are urged to not spot unverified claims connected societal media.

Also Read: Man Confesses to SEC X Account Hack Over Bitcoin ETF Rumor