Crypto Council for Innovation CEO Sheila Warren's X Account Hacked to Promote Fake SPELL Token

The Crypto Council for Innovation (CCI), a leading crypto industry advocacy group, confirmed in a recent social media post that CEO Sheila Warren's X account was compromised on December 26 and used to promote the fake SPELL token.

Crypto Council for Innovation CEO Sheila Warren's X account was compromised on December 26 and used to promote the fake SPELL token.

“This is a scam and NOT Sheila Warren. We are working to resolve the issue. Disregard any tweets and do not click on any links,” the CCI stated in response. The fraudulent posts were later removed.

The attack comes two weeks after the CEO announced she was stepping down from her role at the organization. Her departure will take place one month before the inauguration of President-elect Donald Trump.

Although Warren did not directly state her reasons for resigning, she mentioned the evolving landscape of the crypto industry since she became CEO in 2021. In an X post, she highlighted major events, including the FTX collapse and the ongoing scrutiny of the sector by U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.

I am filled with mixed emotions as I share that I will be stepping down as the inaugural CEO of @crypto_council in January. The incomparable @_JiKim will be stepping into a new role as President and Acting CEO of CCI, and I will provide support as Senior Global Policy Advisor.…

The CCI's chief legal officer, Ji Kim, will succeed Warren as CEO, while Warren will continue to contribute as a senior policy advisor.

“I'm excited to see Ji carry forward CCI's legacy of deep expertise, sophistication, and global perspective in his new role,” Warren wrote.

Account Takeover Scams on the Rise

Account takeover (ATO) scams have seen a significant rise recently, particularly in the cryptocurrency sector. These scams occur when cybercriminals gain unauthorized access to users' accounts—such as crypto wallets, exchange accounts, or social media profiles—by exploiting weak security practices, phishing, or leveraging data breaches.

Once attackers gain control, they can drain funds from crypto wallets, manipulate social media accounts to spread fraudulent links, or steal sensitive personal information.

Blockchain investigator ZachXBT reported in a December 24 X post that a hacker had stolen $500,000 by targeting investors of Solana meme coins and popular X accounts, including KickStreaming, Brett, and Alex Blania.

Moreover, in November, former professional Fortnite player “Serpent” was accused of stealing $3.5 million through meme coin scams targeting several well-known brands and artists. Wallet addresses linked to Serpent were found to be central to multiple pump-and-dump schemes involving meme coins launched on the Pump.fun platform.