Binance founder Changpeng Zhao’s educational startup, Giggle Academy, suffered a security breach on its X (formerly Twitter) account. Following the hack, Zhao warned the community to be cautious of the misinformation from the compromised account. The company and Zhao are working together to regain control over the hacked account.
Giggle Academy, introduced in March 2024, aims to bridge educational gaps by offering free learning opportunities to underprivileged children in developing countries. While the platform has no connections with the crypto space, Zhao stated before its launch that “no new tokens” would be involved in the project. The move aims to revolutionize education by integrating two groundbreaking technologies- artificial intelligence and blockchain technology. Speaking about Giggle Academy’s vision, Zhao stated, “Our goal is to empower underserved communities by providing the tools and knowledge necessary to succeed in the digital economy.”
The hacked X account of Giggle Academy, which is reportedly still under the control of the hackers, attracted the community’s attention with some “exciting news.” Notably, the hackers introduced Giggle Academy’s new CEO, “Glenn Rama,” misleading the followers. In addition, they posted phishing links, urging them to click and fall prey to potential scams.
Binance co-founder Yi He also alerted the community on the hack, alarming them to stay away from such attacks. She asserted that Giggle Academy will never issue coins or ask for investments.
Binance Founder Changpeng Zhao Freed After 4-Month SentenceZhao shifted his focus from Binance to Giggle Academy after he resigned from the crypto exchange. Following the legal saga with the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), Zhao stepped down as the Binance CEO. On November 21, Zhao pleaded guilty to violating anti-money laundering laws and agreed to a $4.3 billion settlement, including a personal penalty of $50 million.
