Powerledger Telegram Channel Permanently Lost
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Powerledger is solving the problem of intermittency in power grids as the power supply changes from a centralized to decentralized structure, with renewable but intermittent power sources. Unfortunately, on August 30th, 2024, their Telegram channel was reportedly lost. On September 3rd, 2024, they had reportedly abandoned any hope of recovering the account and are planning to use other platforms in the future. It is unclear if the hacked channel was used to promote any scams or fraud.[1][2][3][4][5][6][7][8]
About Powerledger
"Powerledger develops software solutions for tracking, tracing and trading of renewable energy. We believe in the democratisation of power, for a sustainable future."
"Powerl[e]dger was founded in 2016 to solve the pressing problem of intermittency arising from renewable integration into the grid.
As the grid changes from centralised to distributed one, we support this transition by overcoming intermittency with a highly agile market and the right tools so that everyone can have access to 24x7 clean energy and resilient grids."
"In 2024, Powerledger has been recognised as one of the top 50 companies in Crypto Valley in Zug, Switzerland. Our technology has received global recognition, including the Renewable Energy Markets Award for innovation and new market approaches to sustainable energy, Sir Richard Branson’s global Extreme Tech Challenge and many more.
Our Co-Founder and Chairman Dr. Jemma Green was named the Australian EY Fintech Entrepreneur of the Year.
Powerledger’s blockchain-based peer-to-peer energy trading technology deployment laid the foundation for groundbreaking regulatory changes in India. Power utilities, governments, and large corporations across the globe use our platform to track, trace, and trade every kilowatt hour of energy."
The Reality
This sections is included if a case involved deception or information that was unknown at the time. Examples include:
- When the service was actually started (if different than the "official story").
- Who actually ran a service and their own personal history.
- How the service was structured behind the scenes. (For example, there was no "trading bot".)
- Details of what audits reported and how vulnerabilities were missed during auditing.
What Happened
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
| Date | Event | Description |
|---|---|---|
| August 30th, 2024 6:03:00 AM MDT | Twitter Warning About Breach | Powerledger posts a Twitter warning about the breach of their Telegram channel. According to the post, they're "working swiftly to resolve this issue" and "urge everyone to refrain from engaging or sharing any information on it". |
| September 3rd, 2024 4:47:00 AM MDT | Telegram Channel Control Lost | The Powerledger team announces that "[d]ue to recent Telegram issues, we would like to inform you that the Powerledger Official Telegram channel is no longer associated with Powerledger and will not be used by us moving forward." It appears that they have lost control of their Telegram channel entirely. They are "now using X Spaces and will soon be also on Discord, which offers much more dynamic engagement than Telegram". |
Technical Details
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?
Total Amount Lost
No funds were lost.
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Immediate Reactions
"Australian blockchain energy technology company Powerledger posted on X that its Telegram channel has been hacked. They advise users not to engage with or share any information as they are currently working to resolve the issue."
"Important Update: Powerledger's official Telegram Channel has been hacked. We urge everyone to refrain from engaging or sharing any information on it. We're working swiftly to resolve this issue. Stay tuned for updates."
Ultimate Outcome
"Due to recent Telegram issues, we would like to inform you that the Powerledger Official Telegram channel is no longer associated with Powerledger and will not be used by us moving forward.
Powerledger Announcements channel will remain dedicated to sharing important #updates and #announcements. For AMA-style discussions, we are now using X Spaces and will soon be also on Discord, which offers much more dynamic engagement than Telegram.
Join the Powerledger Announcements channel for important updates. https://t.me/powerledgerANN
Follow us on X (Twitter) for the latest news and tune in to our X Spaces for live discussions."
Total Amount Recovered
There do not appear to have been any funds recovered in this case.
What funds were recovered? What funds were reimbursed for those affected users?
Ongoing Developments
What parts of this case are still remaining to be concluded?
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.
References
- ↑ SlowMist Hacked - SlowMist Zone (Accessed Sep 25, 2024)
- ↑ @PowerLedger_io Twitter (Accessed Sep 25, 2024)
- ↑ @Powerledger_io Twitter (Accessed Sep 25, 2024)
- ↑ @UsainDicky Twitter (Accessed Sep 25, 2024)
- ↑ @cryptoceannews Twitter (Accessed Sep 25, 2024)
- ↑ @_digitalcatcn Twitter (Accessed Sep 25, 2024)
- ↑ @CoinnessGL Twitter (Accessed Sep 25, 2024)
- ↑ @CryptoJPTrans Twitter (Accessed Sep 25, 2024)