Huge Bitcoin Twitter Hack!

Huge Bitcoin Twitter Hack!

By johnwege | johnwege | 15 Jul 2020


In perhaps the biggest news story of the day Twitter was hacked by a group trying to scam people for their bitcoin.  We have seen scams all the time in the bitcoin world; especially recently on YouTube with the ads often featuring Vitalik Buterin or Charles Hoskinson.  They always offer to double what ever amount of crypto that you send them.

But this scam went even further and was much more dangerous.  Several prominent/celebrity accounts were hacked on Twitter, with them all tweeting requesting bitcoin and they would double it to anyone who donates.

Twitter’s thin veil of security went into full meltdown at 19:00 UTC on Wednesday.

Within minutes, an apparently coordinated hack began: A mass takeover of the most prominent names in crypto began. Within hours, even Barack Obama’s account was compromised.

The messages pumped a bitcoin giveaway scam associated with an organization called “Crypto For Health.”

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All of the accounts requested bitcoin and were offering to send back double the amount.

Some of the hacked accounts were Elon Musk, Bill Gates, Joe Biden, Barack Obama, Kanye West, Jeff Bezos, and Michael Bloomberg.  Not only that but tech giants such as Apple, Uber, Coinbase, Gemini, and Binance were also included in the hack.

The unfortunate thing is that many people, because they trusted these accounts did end up falling for these scams.  As you can see in the picture below, someone actually made a payment of 4.56 BTC to one of those fake giveaway accounts.

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I think this often goes without saying, but today it needs to be said again.  Be very careful with your crypto.  Never trust any source that ever asks for you to send them BTC, with the offer being that they will double it.  If it sounds too good of an offer to be true, it most definitely is too good to be true.

This story as I mentioned before was the #1 trending story of the day, and usually that kind of press coverage would be very good for Bitcoin and other cryptocurrencies.  But I think that this obviously is not the kind of news that we want, and it could discourage many mainstream people from trying out crypto.  It could easily convince them of that old stereotype that cryptos are scams, and keep them away forever, which I hope isn't the case.

So what do you think?  Did you see the hacks taking place?  Is this sort of news coverage bad or good for Bitcoin?

As always, thank you for reading!

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johnwege
johnwege

Hello I'm John Follow me on Twitter! https://twitter.com/johnwege


johnwege
johnwege

Living day by day, stacking sats and trying to retire early. Check out my substack blog https://johnwege.substack.com/ Follow me on Twitter twitter.com/johnwege

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