Crypto news platform Cointelegraph announced earlier today that hackers had managed to breach its banner publishing system to promote fake tokens. This attack comes amid growing attempts by hackers to use reputable crypto platforms as a fishing ground for victims.
Two days ago, CoinMarketCap, faced a similar attack with users losing up to $18,570 to scammers. However, amid this growing trend Ex-Binance CEO Changpeng Zhao, famously known as ‘CZ,’ has advised market participants to be careful when connecting wallets to websites.
Hackers Compromise Cointelegraph’s Banner Publishing System
In a recent development, Cointelegraph’s website was compromised in a front-end attack opening the door for attackers to advertise a fake token. The attacks gained access to the news platform’s banner publishing system through which the attackers targeted users via a fraudulent giveaway pop-up.
The exploit tricked users into believing they had been selected for a “fair launch” token airdrop, valued at $5,500. Via the pop-up, the attackers further urged users to connect their wallets to claim the fake reward.
Cointelegraph confirmed the security breach and alerted users of the attack via an official on X and their official Telegram page. The site urged users to avoid clicking the pop-ups, connecting their wallets or sharing any personal information via the site.
“We are aware of a fraudulent pop-up falsely claiming to offer “CoinTelegraph ICO Airdrops” or “CTG tokens” that are appearing on our site. DO NOT: Click on these pop-ups, connect your wallets, enter any personal information,” the alert read.
However, in a subsequent update on the issue, the news platform announced that it has resolved the issue by removing the malicious code. Cointelegraph’s investigation into the matter showed that the attack was initiated on June 21. But, any damages or losses by victims have not been reported yet.
🔎 Security update:
Cointelegraph’s banner publishing system was briefly compromised on June 21, resulting in a malicious advertisement promoting a fake token airdrop on our website.
The team identified and resolved the issue by removing unauthorized code that briefly affected… https://t.co/XUCkhE11SQ
— Cointelegraph (@Cointelegraph) June 23, 2025
Crypto information platform CoinMarketCap (CMC) also suffered a similar security breach two days ago. In this incident, attackers displayed a pop-up leading users to “verify” their wallets. This led to draining of users’ wallets. However, CMC responded swiftly to eliminate the malicious code before greater harm happened.
Preliminary on-chain investigations found that a minimum of 39 users were attacked, losing a total of $18,570. But CoinMarketCap subsequently promised to compensate all the affected users in full.
Changpeng Zhao Issues Warning Amid Rising Hacks
Following the dual attacks, Ex-Binance CEO Changpeng Zhao took on X (previously Twitter) to warn users of the increased risk of social engineering attacks. CZ noted that the two incidents confirm a new trend for hackers to target information websites.
“2 days ago CMC, now CT. Hackers are targeting information web sites now” he wrote.
With Changpeng Zhao’s remarks reflecting a growing concern in the crypto space, he has warned that attackers have now shifted toward social engineering and wallet compromise. Previously attackers have been focusing on smart contract exploits but have since transitioned to social engineering scams.
ZachXBT has echoed CZ’s sentiment of increasing social engineering scams as the blockchain analytic platform uncovers how a New York-based man stole over $4 million from Coinbase users. The scammer, named Christian Nieves, posed as a Coinbase customer support only to steal from users.
1/ An investigation into how the New York based social engineering scammer Daytwo/PawsOnHips (Christian Nieves) stole $4M+ from Coinbase users by impersonating customer support, bought luxury goods, and lost most of the funds gambling at casinos. pic.twitter.com/7PsP8ymPtO
— ZachXBT (@zachxbt) June 23, 2025
All of the above incidents show how big of a trend social engineering has become, especially across the crypto space. Crypto investors must remain vigilant to avoid falling victims.
