MicroStrategy’s X account compromised, $440k stolen: ZachXBT

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend

by Katherine Ross /

February 26, 2024 09:45 am

rafapress/Shutterstock modified by Blockworks

The official MicroStrategy X account was compromised over the weekend.

A post on the official account late Sunday teased a new coin allegedly backed by the publicly traded company. Both on-chain sleuth ZachXBT and security firm PeckShield warned users about the exploit. The post has since been deleted.

According to a screenshot from PeckShield alert, the X post teased an “official Ethereum token” from MicroStrategy. The post included a link to lead users to the website where they could claim the token, though the link was part of the phishing scam.

Newsletter

Subscribe to The Breakdown

Loading Tweet..

ZachXBT said that roughly $440,000 had been stolen from victims in the attack.

Loading Tweet..

MicroStrategy is known for its bitcoin strategy. Co-founder Michael Saylor previously said that he sees bitcoin as an “exit strategy.”

Saylor told Bloomberg last week that crypto is “technically superior” to asset classes such as gold.

According to an X post from Saylor on Monday morning, the company bought another 3,000 bitcoin.

The company now has over 193,000 bitcoin acquired for roughly $6 billion. The most recent bitcoin buy came in at $155 million for an average price per bitcoin of $51,000.

Loading Tweet..

MicroStrategy didn’t immediately return a request for comment.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2026

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Shaunda Devens