Bitcoin BTC News

A scam of new proportions hits Twitter

The Big Hack

On Wednesday 15th of July, multiple influential accounts with very large followings had been compromised. These accounts included some of the most influential on the planet, the list includes:

  • Elon Musk
  • Jeff Bezos
  • Bill Gates
  • Warren Buffett
  • Joe Biden
  • Michael Bloomberg
  • Barack Obama
  • Floyd Mayweather
  • Kanye West
  • Apple
  • Uber

The Scam

All of these compromised accounts, with a combined following in the hundreds of millions, shared and pinned the same tweet to their profile about having partnered with a (fake) charity/organisation called “Crypto For Health” and they are giving back 5,000BTC to the “community”.

Some accounts such as Bill Gates’ was used to promote a second narrative that is very popular amongst crypto-scams of “send 1BTC and get 2BTC back”.

The Stolen Funds

While the hackers had access to very large followings, awareness was quickly raised amongst people. Unfortunately, few did not see that message and sent funds to the tune of ~13BTC (total), which equals just over $120,000.

The Effect Twitter

The hack was clearly more than a simple password or 2FA bypass due to the sheer proportion of the action. Many became doubtful of Twitter’s security, including the CEO of Binance Changpeng Zhao.

The attack sent their stock down 4% in the afterhours market last night from which it has yet to recover.

Post a Comment


Delivered daily, straight to your inbox.

Select your currency
GBP Pound sterling