Editors Note: This story has been updated to include a response from a Rocket Lab USA spokesperson and to correct the spelling of the company’s name in the headline.
The social media account of Peter Beck, CEO of Rocket Lab USA Inc. RKLB, was hacked, leading to a fraudulent post about a new crypto-based token.
What Happened: On Wednesday, the unauthorized post from Beck’s X, formerly Twitter account, promoted a new Ethereum ETH/USD-based token to fund space-related projects, reported Reuters.
At the time of writing, the above post from Back’s account was removed.
A major player in the small satellite launch market valued at $6.5 billion, Rocket Lab was working with the platform to regain control of the account.
“Peter’s account has been compromised, so this is not an official tweet. We are working with X to restore it,” a company spokesperson confirmed in an email to Reuters.
Rocket Lab responded to Benzinga’s email updating about the account’s restoration. The company’s CEO also took to X, to share this information.
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Why It Matters: On Tuesday, Rocket Lab announced the successful launch of its 54th Electron mission, deploying a single satellite to Low Earth Orbit for a confidential commercial customer.
Last month, Rocket Lab’s shares saw a boost following the Joe Biden administration’s plans to ease export restrictions on U.S. commercial space companies.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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