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Devastating 88% OPSEC Collapse: Hacking or Identity Theft?
OPSEC, the native cryptocurrency of OpSec, an AI-powered decentralized cloud security platform, has crashed more than 88% following alarming reports of a security breach on his official X account.
The latest incident has caused huge financial losses to users and raised suspicions in the cryptocurrency community about the integrity of the platform.
The Alleged Hack and OpSec’s Response
On July 10, OpSec announced on its official X account that external attackers had compromised its security, resulting in the theft of funds from its staking contract.
An hour ago we suffered a security breach by external attackers, resulting in the theft of some funds from our staking contract.
We are taking immediate steps to address the situation by withdrawing current liquidity $OPSEC contract. We must act quickly to…
— OpSec (@OpSecCloud) July 10, 2024
The OpSec team stressed the urgency of the situation and outlined their plan to withdraw liquidity from the current OPSEC contract and migrate to a new contractual address.
To facilitate this migration, users were asked to send their OPSEC tokens to a specified recovery address in exchange for V2 tokens.
The team also assured users that their funds and wallets were safe and that post-migration benefits would include greater contractual security, lower tax rates, and increased liquidity.
Community reaction and skepticism
Despite OpSec’s assurances, many in the crypto community have expressed skepticism about the legitimacy of the breach. Some users suspect the incident could be a cover for an internal scam or pull the carpet.
In a July 11 post on X, user RAIDMACHINE expressed his doubts, suggesting that the situation had a predictable outcome and recalling previous warnings about the project.
This is what I said about 4 months ago $opsec and people made fun of him, lool @zachxbt
And here’s what literally happened today: “we got hacked, it’s not us, the funds are gone” blah blah blah
Coincidence? I don’t think so.
I am so sorry for all the people who have suffered huge losses in… photo.twitter.com/vBwyC4is8U
— RAIDMACHINE (@raidmach1ne) July 10, 2024
Adding to the controversy, on-chain detective ZackXBT had previously criticized OpSec for misleading claims about its infrastructure.
In a March 7 post, he revealed that OpSec had falsely presented an old YouTube video from August 2022 as its own. This revelation has fueled further distrust among users.
The fallout from the incident has been severe for OPSEC. At the time of writing, OPSEC was still down 88%, trading at $0.05582 per data from CoinMarketCap. The cryptocurrency’s daily trading volume was around $7.31 million. Additionally, its market cap dropped to $5.52 million.