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Bitcoin Business Security

Twitter Hackers Target Bitcoin in July 2020

On Wednesday, anonymous hackers gained access to some of the most influential Twitter accounts online including those belonging to Elon Musk, Warren Buffet, Jeff Bezos, Apple, and more. Almost instantaneously the accounts made promises of doubling Bitcoin sent to a wallet address.

Over 400 payments were sent totaling well over $120,000+ USD. Many were hopeful that they would in return receive Bitcoin in values greater than they sent to the hackers due to being posted by such prominent blue checkmark accounts.

Unfortunately for those who sent Bitcoin, this was all part of an elaborate hack that is still being looked into by Twitter employees.

For many, this will be a wake-up call to the real dangers that cyber-criminals present in the modern world. If you see social media accounts promising something that seems too good to be true, it’s likely a scam. Make sure you only spend cryptocurrency through trusted merchants such as Coinbase and Bitpay.

Its still unknown who was behind the attack. Twitter stock briefly dipped before rising back up above its median price before the hack took place. We ask our readers to please be cautious on Twitter and not to send Bitcoin directly to any wallet posted in a tweet, even if it’s posted by a well known Twitter account such as one belonging to a company or public figure.