X admits many user accounts targeted by hackers following X Money release

The social media platform X has admitted that many of its user accounts are being targeted by hackers or cyber attackers following the release of the X Money service.

This comes after numerous X users reported receiving password reset emails despite not requesting them. According to a report from TechCrunch on Tuesday (1/9) local time, X Product Engineer Mridability Singhai posted a statement confirming that the company is actively investigating the issue and has not yet found evidence that any hacks have been successful.

“Hackers appear to believe that now that @XMoney is widely available, they can gain unauthorised access to accounts,” he wrote.

X Money is a new payment service launched by X, which includes bank cards and other benefits. For Elon Musk’s platform, X Money is intended to make it easier for creators to collect payments directly on the platform, thereby facilitating the digital economy within X.

With the indication of money circulating on the platform, it is clear that this attracts criminal activity. Consequently, X has concluded that this is likely the motivation behind the targeting of user account thefts.

Meanwhile, X General Counsel James Burnham condemned the actions of the hackers attempting to target X users. He further stated that the company intends to pursue legal action against those responsible for the attacks.

Despite the ongoing investigation, attacks involving requests for user password resets continue to emerge. X users are actively reminding one another to enable account protection measures, such as two-factor authentication, if they have not already done so.

Grok, X’s proprietary chatbot, has also responded to posts questioning the cyberattacks. The AI confirmed that attacks are indeed occurring but noted that no large-scale successful hacks have been recorded so far. The chatbot also suggested that X users take security measures by providing instructions on how to activate these features.