Kaito AI, an AI-driven platform for crypto market analysis, and its founder Yu Hu were victims of a social media hack on March 15. Hackers accessed their X accounts and posted false claims about compromised Kaito wallets, misleading users about the safety of their funds. By opening a short position on KAITO tokens, the attackers aimed to drive down the token's price, creating profit opportunities for themselves. Fortunately, the Kaito AI team regained control of the accounts and assured users that the wallets remained uncompromised. The incident follows a trend of evolving social engineering attacks in the crypto space, which have recently included fake endorsements and elaborate scams linked to state-sponsored hacker groups. Crypto executives remain vigilant against such rising threats.

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