Coinswitch restores hacked X accounts and refuses to launch native tokens

• Hackers are breaching Coinswitch’s official X (Twitter) account to promote fake scam tokens, switching as native tokens
• The Coinswitch team regained control of their account and deleted fraudulent posts an hour later.

In concerns about cybersecurity breaches, the official X (formerly Twitter) account of Coin Switch, one of India’s leading crypto exchanges, was hacked at midday in Asia on Wednesday. The attacker used the compromised account to facilitate fraudulent Solana-based tokens, switching, and falsely claimed as Coinswitch’s native token set for a trading launch at UTC at 8am.

Coinswitch CEO Ashish Singhal confirmed the violation an hour after the hacking, reassuring users that the funds remained safe. The Exchange team then quickly regained access to their X accounts and deleted misleading posts. Singhar emphasized that Coinswitch has no connection to such tokens, urging the community to ignore allegations about the Switch.

Further investigation revealed that the fraud token was created in Pump.fun. This is a platform well known for launching memokines with questionable legitimacy. At the time of writing, the Switch had a market capitalization of just $4,075 and was priced at just $0.000004168. The creators misleadingly described the token as a reward system for top traders, increasing the deception.