UFC faced a security breach when its official Instagram account was compromised, with hackers using the platform to promote an unauthorized cryptocurrency scheme. The incident, confirmed by MMA journalist Mike Bohn, saw the account posting promotional content for a suspicious cryptocurrency offering.
The unauthorized post remained visible for several hours before being removed. The hackers also utilized the UFC’s Instagram Stories feature to direct followers to a website selling the cryptocurrency in question. The post included a wallet address that appeared to be associated with the scam.
This incident is particularly notable given UFC’s existing legitimate partnerships in the cryptocurrency space, including official deals with VeChain and Crypto.com. The organization’s relationship with cryptocurrency companies has previously drawn attention when former heavyweight champion Francis Ngannou disclosed that the UFC’s exclusive partnership with Crypto.com prevented him from pursuing a potentially more lucrative deal with Coinbase, reportedly costing him at least $1 million in lost opportunities.
According to the crypto token economics, the source wallet likely made it out with around $500,000.
You can see several major sellers got their token for $470 – and made off with $90,000 to a $115,000. If we account for the $470 walelts as the ones with inside knowledge into what was going on, they likely made it out with at least $300,000.
The hack serves as a reminder of the ongoing security challenges faced by major sports organizations on social media platforms and the importance of maintaining robust cybersecurity measures to protect their digital presence and followers from potential scams.
UFC has since regained control of their account, and the unauthorized content has been removed.
