Wednesday, February 24, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Twitter Bitcoin Breach Raises Questions | Coinspeaker

7 months ago
in spam
2 min read
Twitter Bitcoin Breach Raises Questions | Coinspeaker
Share on FacebookShare on Twitter


This most recent hack on Twitter is a curiously high-profile money flipping scam. It may encourage people to be more aware of online scams going forward.

Recently, unverified Twitter users were going wild with memes about how verified user accounts had been restricted after a handful of celebrity accounts had been hacked. Hours later it became clear that the hacks were part of a larger, much more sophisticated scam targeting profiles with trusted names.

How did the Twitter accounts of Elon Musk, Kim Kardashian, Changpeng Zhao, and countless other notable names and companies become victims of a coordinated attack that managed to swipe 12 BTC?

Revamping an Old Trick

The timeline of events and the public nature of the crime makes it easy to track the actions of the hackers on the fifteenth. Twitter accounts of popular celebrities, politicians, and well-known companies began posting tweets offering Bitcoin giveaways where they promised to double the number of coins to be sent to the included link address. Other accounts of prominent names in Bitcoin finance posted similar links to BTC giveaways.

An age-old trick, money flipping scams are a con many may be familiar with, one that involves someone asking for an initial monetary investment that they then promise to double or even triple. When people think of online scams, they might imagine easy-to-spot spam emails or suspicious downloads, but most online money flipping scams occur over social media.

This most recent hack on Twitter is a curiously high-profile money flipping scam and it may encourage people to be more aware of online scams going forward. But there is speculation that the combination of both the poor decision to lock the verified accounts after the fact in an attempt to lessen the impact of the posts as well as the lacking security on the social media site resulted in the perfect storm for the planned scam. As the story unfolds it may raise larger issues for major social media sites and pose more questions about what their responsibilities are to their users.

An Inside Job

Those examining the event say that the hackers most likely waited until they had control of many accounts and then made their move. And that control was widespread. So widespread that Twitter believes the hackers may have either been involved with or coerced employees of the social media site to gain access to administrative systems.

Social Media Security

Although the breach has brought media attention to both Bitcoin and Twitter, most of the negative judgment seems to be falling on the social media giant’s shoulders. Even among speculation that the hacker may have been using admin keys to gain widespread control over certain verified accounts, some users have spoken out about the short-sighted security options on the site.

For instance, the two-factor authentication, or 2FA, system that users have the option of using was implemented recently. This form of authentication adds another level of protection, but Twitter…



Read more:Twitter Bitcoin Breach Raises Questions | Coinspeaker

Related articles

India second most targeted country by cyberattackers in Asia Pacific in 2020

India second most targeted country by cyberattackers in Asia Pacific in 2020

February 24, 2021
Social Media Firm Gab Shuts Down Temporarily Following BTC Spam Scare | Live Bitcoin

Social Media Firm Gab Shuts Down Temporarily Following BTC Spam Scare | Live Bitcoin

February 23, 2021
Tags: Bitcoinbitcoin news todayBreachCoinspeakerquestionsRaisesTwitter

Related Posts

India second most targeted country by cyberattackers in Asia Pacific in 2020

India second most targeted country by cyberattackers in Asia Pacific in 2020

by Bitcoin Market
February 24, 2021
0

India faced the second highest number of cyberattacks in Asia Pacific in 2020 after Japan, accounting for 7% of...

Social Media Firm Gab Shuts Down Temporarily Following BTC Spam Scare | Live Bitcoin

Social Media Firm Gab Shuts Down Temporarily Following BTC Spam Scare | Live Bitcoin

by Bitcoin Market
February 23, 2021
0

Social network Gab saw itself going offline for a short period after some of its employees discovered bitcoin spam...

Significant drop in DDoS attacks last year as cybercriminals direct their efforts

Significant drop in DDoS attacks last year as cybercriminals direct their efforts

by Bitcoin Market
February 22, 2021
0

With everyone doing everything online last year thanks to Covid-19, there was an understandable increase in cyber criminal activity....

Sequoia Capital, one of Silicon Valley’s most notable VC firms, told investors it was

Sequoia Capital, one of Silicon Valley’s most notable VC firms, told investors it was

by Bitcoin Market
February 21, 2021
0

Silicon Valley VC firm Sequoia Capital told its investors Friday that it was hacked, according to an Axios report....

Social network Gab says he went offline to stop Bitcoin spammers – Crypto Bollyinside

Social network Gab says he went offline to stop Bitcoin spammers – Crypto Bollyinside

by Bitcoin Market
February 21, 2021
0

Social network Gab said on Friday he went offline “out of caution” to resolve a Bitcoin spam problem.The company...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Argo Blockchain begins trading on OTCQX market

Argo Blockchain begins trading on OTCQX market

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Argo Blockchain begins trading on OTCQX market

Argo Blockchain begins trading on OTCQX market

February 24, 2021
Ark’s Cathie Wood says she’s still ‘very positive’ on bitcoin – helping the price

Ark’s Cathie Wood says she’s still ‘very positive’ on bitcoin – helping the price

February 24, 2021
Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Net Asset Value(s)

February 24, 2021
Shaktikanta Das | cryptocurrency: RBI governor Shaktikanta Das voices ‘major

Shaktikanta Das | cryptocurrency: RBI governor Shaktikanta Das voices ‘major

February 24, 2021
Tether settles with the NYAG and Square buys the dip, sparking rapid recovery for

Tether settles with the NYAG and Square buys the dip, sparking rapid recovery for

February 24, 2021
Bitcoin bounces back, surging above $50,000 after more buying from Square

Bitcoin bounces back, surging above $50,000 after more buying from Square

February 24, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$50,023.006.49%
  • bitcoin-cashBitcoin Cash(BCH)$535.516.22%
  • binance-coinBinance Coin(BNB)$255.1413.18%
  • bitcoin-goldBitcoin Gold(BTG)$28.308.29%
  • bitcoin-privateBitcoin Private(BTCP)$0.8307.94%
  • blocktixBlocktix(TIX)$0.0200.00%