TRON DAO investigates X hack while network revenue hits record high

Blockchain network TRON has confirmed the breach of its account on social media platform X, attributing it to a social engineering attack. In a post on X after regaining control, the team acknowledged that hackers used the account to promote a contract address.

According to the post, the hackers posted the contract address and also sent direct messages to multiple people while also following unknown accounts. The team now asked that users should ignore and delete any DM from its account on May 2.

It said:

“Please be reminded: TRON DAO will never post contract addresses or send unsolicited DMs. If you received a DM from our account on May 2, please delete it and consider it the work of the attacker.”

The post added that the attack is due to a social engineering attack on one of the TRON DAO team members. It noted that the hackers gained control of the member’s account, allowing them to continue contacting other people and offering posts for payments even after the team regained control.

TRON DAO is now investigating the incident and has already identified several addresses allegedly connected to the perpetrator on X and Telegram. It added that it has also contacted law enforcement agencies on the matter.

OKX debunks Sun’s claims reporting incident

Meanwhile, TRON founder and crypto entrepreneur Justin Sun asked centralized exchange OKX to freeze funds connected to the address behind the hack, noting that the hackers transferred stolen funds to the wallet on the exchange.

In a now-deleted post, Sun said he expected OKX to act quickly to resolve the issue and prevent the hackers from further moving the funds. Although he did not mention the sum stolen, Sun claimed that law enforcement agencies had already sent the freeze notice to OKX’s official mail and TRON had followed the exchange’s procedures for reporting such incidents.

However, OKX’s CEO, Star Xu, debunked Sun’s claims, saying that the exchange had not received any official communication to confirm the freezing order. He further asked that Sun share a screenshot of the request from the law enforcement agency.

He said:

“Dear Mr H.E. Justin Sun, our LE cooperation team just checked the email including spam box, we haven’t received any request related with this case. Can you give us the screenshot to show when the enforcement agency sent the request to us?”

It appeared that the comments were instrumental to Sun’s decision to delete his initial post requesting a freeze of the account.

Tron network sees upgrade as network lead in generated fees

Outside of the recent compromise of its account, TRON is actually in the middle of a positive trend. It recently released a new version of its Kant mainnet upgrade, which improves its compatibility with Ethereum and strengthens network security.

According to the announcement, the upgrade made changes to the network at its underlying level and will make it more efficient. Some of the changes include the reconstruction of the contract event system and the optimization of nodes and API performance.

The network stated that these upgrades, which are not obvious to everyday users, are necessary to make the blockchain a global settlement layer.

Interestingly, the network has seen increased activity and recently reached the milestone of 304 million total addresses. The increased activity also reflected in the network generating the highest fees of all blockchains in April.

Tron ranks as the network with most fees generated in April (Source: CryptoRank)

According to CryptoRank, TRON recorded $51.7 million in fees last month, while Hyperliquid had $49.2 million. Solana was third with $36.9 million. With its fees, TRON not only surpassed Solana but also pulled more than the combined fees of Ethereum and Bitcoin, which had $21 million and $15.4 million, respectively.

Meanwhile, TRX has solidified its position as a top ten crypto asset with a market cap of $23.29 billion.The token is up 4% in the last 30 days and remains a fair performer this year, with only a 3.78% decline year-to-date.

Source