In a recent cybersecurity breach, UK government minister Lucy Powell’s X (formerly Twitter) account was compromised to promote a fraudulent cryptocurrency named “House of Commons Coin” ($HCC). The unauthorized posts, now deleted, falsely claimed that $HCC was a community-driven digital currency project, even featuring the official House of Commons logo to lend credibility.
The Scam Unveiled
The misleading posts from Powell’s verified account claimed that $HCC was a “community-driven digital currency bringing people’s power to the blockchain,” accompanied by slogans like “Transparency, participation, trust.” The use of the official House of Commons insignia added a veneer of legitimacy to the scam.
Cybersecurity experts identified the incident as a classic “pump and dump” scheme. In such scams, perpetrators create a worthless cryptocurrency, artificially inflate its value through deceptive promotions, and then sell off their holdings for profit, leaving unsuspecting investors with worthless assets. In this case, the rapid deletion of the posts limited the impact, resulting in only 34 transactions and approximately £225 in gains for the scammers.
Official Responses and Broader Implications
A spokesperson for Lucy Powell confirmed the breach, stating that immediate steps were taken to secure the account and remove the misleading content. The UK Parliament emphasized its commitment to cybersecurity, providing ongoing advice to members on managing digital safety, though it refrained from commenting on specific security measures.
This incident is part of a growing trend where cybercriminals target high-profile individuals to lend credibility to fraudulent schemes. Earlier this year, BBC journalist Laura Kuenssberg’s X account was similarly hacked to promote a fictitious BBC cryptocurrency.
The Rising Threat of Social Media Hacks
The increasing frequency of such attacks underscores the need for enhanced cybersecurity measures. According to Action Fraud, the UK’s national reporting center for fraud and cybercrime, there was a significant rise in social media and email account hacks in 2024, with over 35,000 incidents reported. Experts recommend implementing two-factor authentication and using strong, unique passwords to protect social media accounts.
Conclusion
The hacking of Lucy Powell’s X account to promote a fake cryptocurrency highlights the evolving tactics of cybercriminals and the vulnerabilities inherent in digital platforms. As scammers continue to exploit the credibility of public figures, it’s imperative for individuals and institutions to prioritize cybersecurity measures to protect against such deceptive schemes.
