Venture Capital Firm a16z Regains Control of X Account Following Hack That Promoted Scam Crypto Token

Andreessen Horowitz (a16z), one of the most prominent venture capital firms in the cryptocurrency sector, has confirmed that it has regained control of its official X account. The X account was compromised by hackers on June 18, 2025. 

The account, which has a following of over 850,000, was used to disseminate false information about a fake cryptocurrency token bearing the ticker “$a16z.” 

The malicious actors behind the attack sought to exploit the firm’s reputation by promoting the token as an official launch, misleading users into engaging with fraudulent schemes. 

a16z moved quickly to remove the unauthorized content and issued a public statement to address the situation.

Hackers Exploit a16z’s Credibility to Push Scam Token and Airdrop

During the breach, the attackers used the compromised account to publish multiple tweets promoting a fraudulent Solana-based token. 

One tweet falsely claimed that a16z had officially entered the token market with the launch of “$a16z,” calling it a “pivotal moment in the evolution of crypto.” 

Accompanied by a wallet address and fake promotional material, the campaign included a counterfeit $5 million airdrop and false promises of giveaways to lure users into clicking malicious links. 

These tactics mirror classic phishing and social engineering techniques, designed to deceive unsuspecting investors into transferring funds or compromising their own wallets.

Also Read: AI16Z Founder’s X Account Hacked, Scammers Spread Phony Eliza Link

Scam Results in Brief Price Surge Followed by Rapid Crash

Blockchain analysis shows that the fraudulent token briefly soared in value after the misleading tweets gained traction. 

As users scrambled to buy what they believed was an a16z-endorsed token, a temporary price spike occurred, only to plummet nearly 90% shortly thereafter in a typical pump-and-dump collapse. 

The abrupt crash left many users holding worthless tokens, with some taking to social media to express outrage and confusion. 

Although a16z had no involvement in the scam, a segment of users blamed the firm for the losses, citing the influential role of the compromised platform in promoting the fraud.

Also Read: Alabama Man Found Guilty By SEC In The Latter’s X Account Hack Post On Bitcoin ETF

Recurring Security Incidents Raise Questions Over Digital Protections

In response to the incident, a16z issued a statement emphasizing that the breach was confined to its X account and that no internal systems or financial platforms were affected. 

The firm attempted to downplay the incident with a touch of humor in its statement, referring to the hackers as “clowns,” though reactions to the tone were mixed. 

More concerning, however, is that this marks the second high-profile breach connected to the firm in recent months, following the February 2025 hack of co-founder Chris Dixon’s personal X account. 

These repeated incidents have amplified concerns over cybersecurity in the crypto industry, particularly for public-facing entities.

Also, they have reignited calls for stronger authentication and account protection mechanisms on social platforms.

Also Read: Crypto News Platform Watcher.Guru Suffers X Account Hack as False Reports Emerge About SWIFT and XRP Partnership