The British Army is the most recent casualty of the market's widespread crypto scams. On July 3, hackers broke into the British Army's Twitter and YouTube accounts and started streaming cryptocurrency videos through them.
Following the hack, the British Army briefly restored control before posting a new tweet that said: “Apologies for the momentary interruption to our stream. We'll carry out a thorough investigation and draw conclusions from this situation. We appreciate your patience; regular service will now resume.”
Another tweet from the British Ministry of Defence stated: "An inquiry is ongoing after the resolution of the earlier today breach of the Army's Twitter and YouTube accounts. It would be improper to discuss further until the Army's investigation is finished since the Army takes information security very seriously.
The British Army's Twitter account was hacked and renamed Bapesclan. Then they published a number of blogs about non-fungible tokens (NFTs). In addition, they replaced the profile photo with a cartoon ape wearing clown makeup.
Renaming YouTube Account to Ark Invest
Similar to this, the hackers seized control of the YouTube account, renamed it "Ark Invest," and started uploading videos on cryptocurrencies. Ark Invest is an American investment management company owned by Cathie Wood popular for its cryptocurrency wagers.
Tobias Ellwood, the Speaker of the House of Commons, said: "This looks serious. I hope the investigation's findings and any further measures are adequately communicated.”
Scams using cryptocurrency are prevalent, particularly during the recent bull run. Hackers have stolen hundreds of millions of dollars from investors this year by using numerous DeFi bridges as entry points. The most recent one was Harmony's Horizon bridge's $100 million hack.