Insight into Twitter hacks using Bitcoin Scam by Col. Inderjeet Singh, DG, CSAI

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Published : Jul 16, 2020, 4:15 PM IST

Updated : Feb 16, 2021, 7:51 PM IST

cryptocurrency  scams on twitter,twitter hacks using bitcoin scam

A number of tweets appeared to promote a cryptocurrency scam, for doubling the money. More than 376 transactions happened and 69 complaints registered.

Delhi: Col. Inderjeet Singh, Cyber Security Expert, Director General, Cyber Security Association of India, after due investigation, said that multiple well known Twitter accounts - Bill Gates, Elon Musk, Joe Biden, Warren Buffett, Kanye West, Michael Bloomberg, Apple, Uber, Jeff Bezos, Barack Obama, along with other 320 accounts were hacked with this Bitcoin Address: bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh.

This stated to double the amount that is paid to them. The account used to offer "Send me BTC and I'll return double" type scams on hacked posts. These tweets appeared to promote a cryptocurrency scam.

Between yesterday and today, a large number of people have reported a particular Bitcoin wallet for it's scamming activities and there are almost more than 376 transactions, on this particular Bitcoin address:-

bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh.

Col. Inderjeet Singh further said that the security team investigated this Bitcoin address that has been used for scamming activities and 69 complaints have been filed for the Bitcoin address on the following site:-

https://www.bitcoinabuse.com/reports/bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh

"Everyone is asking me to give back, and now is the time," Gates' tweet said, promising to double all payments to a Bitcoin address for the next 30 minutes".

The sheer number of prominent accounts impacted made it arguably the biggest security incident in Twitter's history. A hack like this is particularly concerning not just because of any financial scam that can be run, but because so many world leaders use Twitter -- and some, like President Donald Trump, use it to announce major policy decisions. A hack that took over an account belonging to one of those leaders could have devastating consequences.

Twitter has termed this incident as a "coordinated social engineering attack" against its employees who access its internal tools. The scammers behind the operation have amassed approximately $120,000 in bitcoins till now, suggesting that unsuspecting users have indeed fallen for the fraudulent scam.

Also Read: Prof. N K Goyal, Chairman TEMA, speaks on the ban of 59 Chinese Apps imposed by the Indian government

Last Updated :Feb 16, 2021, 7:51 PM IST
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