In a shocking turn of events, the official X account of Plasma Stablecoin, a prominent Bitcoin-based stablecoin network, was compromised by an external attacker on July 11, 2025. The breach, which occurred around 3:00 UTC, raised immediate concerns among the crypto community about potential phishing risks and unauthorized access to user data.
According to posts on X and reports from multiple sources, the Plasma team was quick to respond, triggering their alerting system and conducting a full-scale triage of their systems to mitigate any further risks. By approximately 11:00 UTC on the same day, Plasma announced they had regained control of the compromised account, reassuring users that the breach was limited to the X platform.
The attack, reportedly executed through backend operations on the X platform, highlights the growing vulnerability of social media accounts in the crypto space. Malicious actors often target such platforms to spread phishing links or false information, putting unsuspecting users at risk of losing their digital assets.
During the period of compromise, several community members and news outlets, including BitcoinWorld Media, issued urgent warnings to avoid interacting with any posts or links from the Plasma X account. This swift community response likely prevented widespread damage, though the full impact of the breach is still under investigation.
Plasma has since emphasized their commitment to user security, promising a detailed post-mortem of the incident to ensure such breaches are prevented in the future. This incident serves as a stark reminder of the importance of robust cybersecurity measures in the rapidly evolving world of cryptocurrency and blockchain technology.
As the crypto industry continues to grapple with hacks and scams—evidenced by over $2.1 billion lost to exploits in the first half of 2025—users are urged to remain vigilant and verify the authenticity of communications from project accounts. Stay tuned for further updates on this developing story.
Maria Lourdes
