In a concerning development for cryptocurrency security, UK Government Minister Lucy Powell’s X (formerly Twitter) account was compromised yesterday morning by hackers promoting a fraudulent cryptocurrency dubbed ‘House of Commons Coin’ ($HCC). This incident highlights the ongoing challenges of crypto security and social media exploitation.
Anatomy of the Social Media Crypto Scam
The attackers falsely presented $HCC as an official House of Commons initiative, describing it as ‘a community-driven digital currency bringing people’s power to the blockchain.’ Thanks to Powell’s swift response in deleting the misleading post and securing her account, financial damages were limited to approximately £225.
This incident bears similarities to recent crypto fraud cases, though on a smaller scale, demonstrating the evolving nature of social media-based cryptocurrency scams.
Growing Trend of Celebrity Account Exploitation
The attack follows a pattern of high-profile social media account compromises targeting public figures. Notable examples include BBC Political Journalist Nick Robinson’s account hack in February 2025, where scammers promoted a fraudulent token called ‘$TODAY’.
Understanding Pump and Dump Schemes
These incidents typically follow the classic ‘pump and dump’ scheme structure:
- Initial compromise of verified accounts
- False endorsement of new cryptocurrencies
- Artificial price inflation
- Quick profit-taking by scammers
- Resulting worthless tokens for victims
Protecting Against Crypto Scams
Action Fraud reports that 35,343 social media and email accounts were compromised last year. To protect yourself:
- Enable two-factor authentication (2FA)
- Use strong passwords (three random words minimum)
- Never share private keys or security credentials
- Verify all cryptocurrency projects independently
- Be skeptical of celebrity endorsements
FAQ: Crypto Scam Prevention
How can I verify legitimate cryptocurrency projects?
Research the team, check code audits, verify social media presence, and consult multiple independent sources before investing.
What are the warning signs of a crypto scam?
Watch for promises of guaranteed returns, celebrity endorsements, urgency to invest, and unverified team members.
How can I report a cryptocurrency scam?
Contact your local financial authority, report to Action Fraud, and alert the relevant cryptocurrency exchange or platform.