X: Crypto Accounts Targeted by a Reset Wave

On September 1, 2026, a wave of password reset emails overwhelmed thousands of users on X (including influential crypto accounts). Some even received up to 10 messages in just a few hours. X asserts that this is by no means a security breach. Nevertheless, this attack reignites fears of a hacking campaign. Especially since it coincides with the launch of X Money, Elon Musk’s new payment service.

A Phenomenon Large Enough to Attract the Attention of the Crypto Community

According to the first reports, the origin of this possible attack is a massive wave of password reset requests triggered on X. This is the platform acquired and then integrated by xAI.

Investor and analyst Nic Carter was one of the first to the crypto community. His call quickly resonated among some sector personalities.

Trader cap.eth also reported an aggressive attempt against his profile despite having 2FA activated. He stated:

Someone is aggressively trying to reset my password.

Nathan, another active user in the crypto blockchain, received ten emails within a few hours. Even several CoinDesk employees confirmed they had been targeted. Yet, two of them had email addresses that were hardly exposed. The frequency and scale suggest deliberate coordination rather than simple technical coincidence.

The Timing of This Attack on X is No Coincidence

The incident occurs just as X has officially rolled out X Money to all its Premium and Premium+ subscribers in the United States. More explicitly, the launch happened on August 31, 2026 (i.e., the day before the wave of resets). This raises questions!

Developed in partnership with Cross River Bank, this service allows sending money directly via the X platform. For crypto users, this evolution is a major step toward integrating digital payments within the social network. That being said, it also turns each account into a potential financial target. Crypto traders who heavily use X for their announcements and analyses are thus prime prey for malicious actors.

Crypto: X Faces a New Trust Test

For now, X has not provided any official numbers on the total number of crypto accounts affected, nor confirmed the existence of a coordinated hack campaign. The company also did not specify whether the origin of the attempts comes from an identified group or a spontaneous multiplication of automated attempts exploiting the notoriety of X Money.

Analysis: nothing currently indicates that credential theft has actually occurred. Nothing also completely rules it out as the investigation continues.

A worrying precedent nonetheless advises caution. In 2023, data from over 200 million X accounts was already circulating on the dark web due to a 2021 API vulnerability. This breach allowed attackers to link email addresses and phone numbers to user pseudonyms. Available on the dark web since 2023, this information could theoretically be reused.

That’s not all! Digital assets stored on platforms connected to X could also theoretically be exposed if a hacked account served as an access vector. Especially since the blockchain offers little recourse in case of theft due to its transparent nature. The crypto community is thus demanding more transparency from Elon Musk on the security protocols implemented for X Money.

In any case, this wave of emails illustrates the persistent vulnerability of social platforms as soon as a financial service is linked to them. For crypto users, vigilance remains the best protection. The next real-world security test for X could well revolve around the growing adoption of X Money. Another catalyst to watch is the response of crypto regulators to these vulnerabilities.