Solana Co-Founder Targeted in Crypto Extortion Hack
Key Takeaways
- Personal data belonging to Solana co-founder Raj Gokal and his wife was published on Instagram.
- The leak occurred via the hacked account of U.S. rapper Migos.
- The attackers reportedly demanded 40 Bitcoin (over USD 4.3 million) – likely an extortion attempt.
- 2025 has already seen a 131% increase in crypto hacks compared to the previous year.
- Experts suspect social engineering was used to gain access to Gokal’s data.
What Happened?
Raj Gokal, co-founder of the blockchain platform Solana, became the target of a deliberate attack on his personal data. Photos of Gokal and his wife suddenly appeared on the Instagram profile of U.S. rapper Migos – including ID documents such as passports and identification cards. These resemble typical KYC (Know Your Customer) documents required when registering on regulated crypto platforms.
The post included the caption “You should’ve paid the 40 BTC,” indicating a failed extortion attempt. With Bitcoin trading at around USD 108,000 at the time of the incident, the demand amounted to over USD 4.3 million.
How Did the Data Leak Occur?
According to renowned Web3 analyst ZachXBT, Gokal’s personal accounts may have been compromised through social engineering – a method where attackers manipulate individuals into giving up sensitive information. The attackers then used Migos’ hacked Instagram account to publicly share the stolen information.
Just a week before the incident, Gokal had warned on the platform X (formerly Twitter) that unknown individuals were attempting to access his email and social media accounts. The timing is notable: just days earlier, Coinbase had reported a data breach that also affected user information. Some speculate that Gokal’s data may have originated from that breach.
Rising Number of Crypto Hacks in 2025
This incident is part of a growing trend of security breaches impacting the crypto industry in 2025. According to a security report by PeckShield, over 60 documented hacks occurred in the first quarter alone. Total damages amounted to around USD 1.63 billion – a 131% increase compared to the USD 706 million recorded in Q1 2024.
Among the hardest hit was trading platform Bybit. In Q2, the Cetus protocol, based on the Sui blockchain, lost an additional USD 223 million. The Coinbase breach could also lead to compensation claims exceeding USD 400 million.
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What You Can Learn
This case underscores the importance of securing your data and accounts in the crypto space. Attacks are increasingly carried out through social manipulation rather than just technical vulnerabilities. Fake support agents contacting users via email or messaging apps are especially dangerous.
The following measures can help increase your security:
- Use two-factor authentication (2FA) for all accounts.
- Do not share sensitive information with unknown contacts.
- Use different passwords for each platform.
- Regularly check if your data has appeared in known leaks.
Our Assessment
The Raj Gokal incident is yet another example of how crypto personalities are being deliberately targeted by cybercriminals. The combination of social engineering, extortion, and public exposure is a serious trend. For you as a user, this means vigilance is more important than ever. The rising number of attacks shows that both centralized and decentralized platforms have vulnerabilities.
Be cautious when receiving messages from unknown senders. Don’t blindly trust social media profiles – even if they’re verified. In an industry where digital identity and financial assets are closely linked, protecting your data is crucial.
Sources
- PeckShield
- X (formerly Twitter) – Posts by ZachXBT
- Posts by affected users on X
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