Sandbox CEO’s Twitter hacked for promoting a scam

Arthur Madrid, the co-founder and CEO of The Sandbox, a metaverse project, had his Twitter account hacked on May 26. After recovering the account, Madrid posted a warning to Sandbox users to not click on any link that looks suspicious and doesn’t use their proper URL/domain name, The attacker allegedly used Madrid’s account to promote a fake airdrop phishing scam. The Sandbox’s official Twitter account also warned users that a scammer had taken control of their account and was promoting a phishing link for a fake airdrop of SAND tokens. The Sandbox team stated that they were working on getting the site down and fixing it as soon as possible. The alleged scam site appears to have been taken down as of 8:26 pm UTC, as it now produces a 404 error. Phishing attacks have become a frequent problem in the crypto community, with a reported increase of 40% in 2022 compared to the previous year. In May, a scam-as-a-service called “Inferno Drainer” was reportedly discovered to be operating on Telegram, stealing nearly $6 million from users.