The account was used to promote a fake cryptocurrency project, and the attack illustrates how cybercrime continues to expand its reach through different digital platforms.

The verified X account of MP Lucy Powell, which had 70,000 followers, was hacked on 15th April to promote a fake cryptocurrency called "House of Commons Coin" ($HCC). The "House of Commons Coin" cryptocurrency fraudulently claimed a connection with the United Kingdom's lower legislative body. As the House of Commons Leader, Powell acted quickly to protect her account. Her spokesperson said they acted swiftly to protect the account and delete any incorrect posts.

The Mechanism of Fraudulent Crypto Schemes

This hacking incident is a classic example of the fraudulent "pump and dump" scheme. Fraudsters exploit major platforms to create excitement about fake cryptocurrencies that have no real value. The scammers unload their holdings after the coin's value increases due to public interest, which results in a sharp decrease in value and substantial financial losses for investors.

Soon after the hack, the scammers made a profit of approximately $260 from 34 transactions through the compromised account. Media attention about $HCC led to total trading volume hitting $55,000 within hours, according to CoinShares, a digital asset management firm. This represented a significant increase from the $7,000 volume earlier in the day.

A Growing Trend of High-Profile Hacks

The incident represents a disturbing worldwide pattern where scammers target public figures' social media accounts to promote fraudulent schemes. Hackers took control of Ghanaian President John Mahama’s X account for two days to push the fake “Solana Africa” cryptocurrency scam. The endorsement of blockchain projects by influential public figures like Donald Trump and Javier Milei boosts scam legitimacy, which worsens financial losses for investors.

Implications for Investors and Businesses

The necessity for strong cybersecurity protections becomes clear when attacks target individuals and organisations with a significant public profile. UK investors need to understand cryptocurrency investment risks to protect themselves effectively. Please make sure you validate all crypto projects through official, reputable sources before investing, and exercise caution with random crypto offers.

This event demonstrates how digital threats continue to evolve while highlighting why vigilance, education, and a security-focused approach remain crucial. Because of today's interconnected world, both businesses and individuals must now consider cybersecurity essential.