Major Twitter Accounts Hacked in Bitcoin Scam

The Twitter accounts of large companies and individuals were hacked yesterday, promoting Bitcoin scam. Twitter has indicated that the company’s internal systems have been compromised, and individual users were not at fault.

16 July, 2020 | AtoZ Markets – Hacking seem to dominate recent headlines. Hacking costs consumers and companies billions of dollars each year.  Even the most amateur hacker can easily find all the tools at virtually no cost. Hackers can also destroy the system, steal it, and prevent authorized users from accessing it.

Twitter Hack Hits Barack Obama, Joe Biden, Elon Musk, and Others in Bitcoin Scam

A large-scale hack on Twitter has taken over some of the largest and most influential Twitter accounts to promote Bitcoin scam. Joe Biden, Elon Musk, Bill Gates, Kanye West, Kim Kardashian, Wiz Khalifa, Warren Buffett, Mike Bloomberg, Barack Obama, Jeff Bezos are among them. It is the largest security breach in 14 years of Twitter history and opens up new possibilities for disinformation campaigns.

Twitter has confirmed that it has taken the drastic step of blocking new tweets from all verified users, and locking all compromised accounts. Twitter chief executive Jack Dorsey also tweeted:

“Tough day for us at Twitter. We all feel terrible this happened.”

Twitter said it is still working on a fix. But all verified accounts users can tweet again by 20:30 EDT today. Some of the victim individuals reported that they enabled two-factor authentication and used strong passwords, which usually makes it difficult to hack into any account. But, Twitter said that hacker used its web application that could be internal to Twitter, or the services used to manage accounts. Moreover, Twitter support said:

“We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. […] We’re continuing to limit the ability to Tweet, reset your password, and some other account functionalities while we look into this.”

Twitter also said the hack was caused by “coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.”

Hackers Compromised High-Profile Accounts by Internal Tools

A hackers group share screenshots of Twitter’s internal management tools, which twitter allegedly used to gain access to a high profile verified account, Motherboard said. Motherboard claim to talk with a hacker who paid a Twitter employee to use an internal tool to change the email address of a popular account so he could manage it. Some users cite certain former Twitter developers as the person behind the attack, but this is completely unverified, with zero evidence.

A Reddit user called Eagle-eyed found several hidden messages in the transactions sent to the Bitcoin wallet related to the scam. Hackers tweeted to promote Bitcoin scam using hacked accounts and have received $118,000 from over 300 users so far. The sender also spent a transaction fee of 0.00121639 BTC ($11.19) to send the following message:

“Just Read All; Transaction Outputs As Text; You Take Risk When Use Bitcoin; For Your Twitter Game; Bitcoin is Traceable; Why Not Monero”

It’s not clear if the message was targeted at the person responsible for the hack or targeted at a bitcoin scam. According to experts, the message is strategic. It has been reached to get people using BTC to investigate some of the differences with XMR.

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