Renowned cryptocurrency trader GCR (Gigantic Rebirth) has revealed that his X account was hacked through a bribery scheme, leading to a pump-and-dump of the ORDI token.

On May 26, the widely-followed pseudonymous crypto trader GCR reported that his X account was compromised. According to GCR, the hackers gained access by bribing X employees, enabling them to promote two specific tokens on various crypto exchanges.

GCR, a well-known figure in the cryptocurrency community, shared details of the breach on an alternative X account. He explained that the attackers hijacked his original account to promote ORDI, a BRC-20 token linked to the Ordinals protocol on the Bitcoin blockchain, and LUNA2, a token created to salvage the Terra Luna ecosystem following the UST stablecoin's collapse in May 2022.

In a statement, GCR disclosed, "Two months ago, I was informed by someone connected to Twitter that bribes were being offered to gain access to my account. I enhanced my security measures at that time, but no security can prevent insider threats if X employees accept bribes for admin access."

Shortly after the compromised account began promoting ORDI, its price on Bybit spiked dramatically from $38 to $46 before plummeting back to $40 within minutes, suggesting a classic pump-and-dump scheme.

The hacker’s identity remains unknown as of the latest update. However, blockchain investigator ZachXBT noted on his X account that the perpetrator's identity might be uncovered within the next 12-24 hours. ZachXBT pointed out that the hacker had poorly laundered their funds, making it feasible to trace them through centralized exchanges.

Additional reports indicate that the hacker opened significant positions on various centralized exchanges prior to hacking GCR's account, potentially leading to their identification.

This incident highlights the vulnerabilities within social media platforms and the cryptocurrency ecosystem, emphasizing the need for robust security measures and vigilant monitoring to protect against insider threats and fraudulent activities.