QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$27 000 USD
JANUARY 2025
GLOBAL
LITECOIN
DESCRIPTION OF EVENTS
Litecoin is a decentralized digital currency that was created to be used for everyday transactions. Launched in October 2011, it operates as a faster and cheaper alternative to Bitcoin. Over the years, it has processed over 300 million transactions without a single network interruption. Litecoin is particularly popular for payments, remittances, and peer-to-peer transfers, thanks to its low transaction fees and almost instantaneous settlement times. This makes it an ideal choice for users who need a reliable, cost-effective way to transfer value globally.
What sets Litecoin apart from other cryptocurrencies is its commitment to security, reliability, and financial privacy. It has never experienced any network downtime in its 13-year history and is known for its resistance to censorship. Unlike traditional financial systems, Litecoin is open 24/7 and has never been hacked. Additionally, it offers opt-in confidential transactions, allowing users to protect certain transaction details, making it more similar to cash in terms of privacy.
The Litecoin Foundation, established in 2017 as a nonprofit organization, is dedicated to the growth and adoption of Litecoin. The foundation supports the development of the cryptocurrency's technology and ecosystem while fostering a passionate community of developers, marketers, and volunteers. Through its efforts, Litecoin continues to expand its use cases, from personal transactions to business payments and cross-border exchanges.
Overall, Litecoin stands out as a fast, low-cost, and secure digital currency with a strong community and long-standing reliability, making it a popular choice for individuals and businesses alike.
It appears that the Litecoin Twitter/X account had delegated another account to be able to make posts.
The unauthorized post, which included a Solana contract address for the fake Litecoin token, briefly drove the scam token’s market capitalization to $27,000 before it plunged to $3,400, per DEX Screener. The tweet was subsequently removed.
“Be cautious [about] any tweets coming from this account until the team confirms they have regained full access to the account,” warned a user.
"Litecoin's X account was briefly compromised today and posts that were not authorized were published. These were live only for a matter of seconds before being deleted. We're still investigating the issue, but immediately found a delegated account that was compromised and removed it. We apologize for any confusion caused."
Litecoin is a decentralized digital currency launched in 2011, designed to be a faster, cheaper alternative to Bitcoin for everyday transactions. It has processed over 300 million transactions with zero downtime. Known for its security, financial privacy, and resistance to censorship, Litecoin is supported by the Litecoin Foundation, a nonprofit organization that promotes its growth. Recently, the Litecoin Twitter/X account was briefly compromised, leading to unauthorized posts about a fake Litecoin token on the Solana blockchain. While the issue was quickly resolved, it appears that multiple Twitter/X users may have lost funds.
@litecoin Twitter (Mar 4)
Litecoin's X account hacked to promote fake Solana LTC token (Mar 4)
Alpha69Bets - "Did @litecoin just rug pull everyone?????" - Twitter/X (Mar 4)
@SatoadshiLite Twitter (Mar 4)
@Cryptonichub Twitter (Mar 4)
@imcoinx Twitter (Mar 4)
@XprinceCLONE Twitter (Mar 4)
@1000xAgent Twitter (Mar 4)
@AnimalverseNews Twitter (Mar 4)
@paddleurway Twitter (Mar 4)
@blocknewsdotcom Twitter (Mar 4)
@beincrypto_es Twitter (Mar 4)
@deyner1984 Twitter (Mar 4)
https://www.reddit.com/r/CryptoCurrency/comments/1hzlvsy/litecoins_x_account_hacked_to_promote_fake_solana/ (Mar 4)
Litecoin X account briefly hacked to promote a fake token (Mar 4)
https://www.binance.com/en/square/post/18870504069586 (Mar 4)
https://www.bitget.com/news/detail/12560604491459 (Mar 4)
Litecoin - Buy, Hold, Pay & Learn LTC (Mar 4)
