Crypto Twitter aimed to respond to the Twitter hack and suggested that there is more to it than what is visible.
On 16th July 2020, a large-scale twitter-hack attack took over some very famous verified accounts, including Wiz Khalifa, Mike Bloomberg, Barack Obama, Kanye West, Bill Gates, Joe Biden, Elon Musk, and Warren Buffett.
The hacker posted about fake giveaways from all these compromised accounts, demanding Bitcoin transactions and promising to return double what will be received.
Twitter temporarily locked all the verified accounts after immediate responses about the tweets getting deleted. In this regard, Jack Dorsey, CEO, Twitter, said that the investigations are going on.
Multiple companies, whose accounts got hacked, responded to the same. Binance formally announced that they would protect the assets of everyone by blacklisting the scammer’s address. Adding to this, they informed that the control of their twitter account is retaken, and there are no transfers of bitcoin to the given address.
Many theories are floating around about the mystery of how the scammer managed to hack so many high-profile accounts. One of the theories is that an ex-Twitter employee was involved in the game. However, all these theories are unverified, and there is no evidence confirming it.
After this hack, many tweets referred to ‘CryptoForHealth’ with a site link that was taken down. Dyma Budorin, CEO Hacken Group, has warned users about the malware this link may contain. He also suggested that whoever opened this link should terminate their active twitter sessions, and the device which was used to open the link should be avoided for any kind of transactions before the world knows what exactly happened.
Some users claim that the hacker had a super low IQ because anyone with access to so many influential accounts could have manipulated the markets rather than running those giveaway scams.
A crypto trader named Sicarious explained that a better approach could be to shorten Bitcoin and then release the news of exchange hacks, funds not being “safu”, and SEC raids.
Yet another trader, DonAlt, tweeted that this hack and approach could have been used to shoot up the Bitcoin prices by posting news that a coin is adopted by the USA as a central currency thwart China.
A gold enthusiast and Bitcoin skeptic, Peter Schiff, commented on the scam by saying that it could be the harbinger of Bitcoin being hacked and suggested in the tweet that this is not the time to take risk and investors should buy gold to be safe. Replying to this, Anthony Pompliano tweeted that Twitter was hacked and not Bitcoin.
Jimmy Song, a Bitcoin developer, tweeted to educate the people and said that someone is messing with Twitter at the root level, and the same thing happens with the fiat money system. Concluding which, he explained that Twitter is not yours exactly just like your Dollars.