Introduction
On July 15, 2020, Twitter accounts of major crypto influencers were hacked to promote a token claim scam. The list of hacked accounts included those of Elon Musk, Bill Gates, Jeff Bezos, and Barack Obama, among others. However, the hack did not spare crypto firms as well. Blockchain Capital, a prominent crypto venture capital firm, also had its Twitter account hacked.
Blockchain Capital’s Twitter Account Hacked
Blockchain Capital’s official Twitter account was hacked on July 15, 2020, along with several other high-profile accounts. The hackers used the account to promote a fake cryptocurrency giveaway. The tweet read: “We are giving back to our community. We support Bitcoin and we believe you should too! All Bitcoin sent to the address below will be sent back doubled! If you send $1,000, we will send back $2,000. Only going on for the next 30 minutes. btc address here“
Scammers Make Away with Millions
The hack resulted in millions of dollars worth of cryptocurrencies being stolen from unsuspecting users. According to reports, the hackers were able to make away with over $100,000 worth of Bitcoin within a few hours. The hack also revealed a major flaw in Twitter’s security system, with hackers gaining access to verified accounts and posting fraudulent messages.
Twitter’s Response
Twitter has launched an investigation into the hack and has promised to take action against those responsible for the scam. The company has also temporarily disabled all verified accounts from tweeting. In a statement, Twitter said, “We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.”
Related?Blockchain.com Receives Payment License from MAS in Singapore
Conclusion
The hack of Twitter accounts of major crypto influencers and firms has once again highlighted the vulnerabilities of social media platforms. While Twitter has promised to take action against those responsible for the scam, it has also raised concerns about the security of digital assets and the need for stronger security measures. As the crypto industry continues to grow and gain mainstream adoption, it is crucial for firms to invest in robust security systems to protect their users’ assets.
