Twitter garners headlines for the latest Bitcoin scam targeted by hackers from prominent US personalities. In the latest development of ongoing massive twitter hack, the cybersecurity experts confirm that the bitcoin scammers were able to make $120,000 in just two hours.

The hackers associated with the Bitcoin scam targeted the famous US figures like Kanye West, Barack Obama and Joe Biden with access to internal systems and tools. Scammers also targeted the official Twitter accounts of prominent billionaires. The names of the billionaires include Jeff Bezos, Elon Musk and Bill Gates as well.

The twitter accounts of these eminent US personalities were used to send tweets asking for donations in the cryptocurrency. Users were requested to send $1000 on an unknown Bitcoin address to earn $2000, a report said.

As per the reports, the Bitcoin scammers were able to gather $120,000 by the time Twitter’s cybersecurity team detected the hack. More than 300 users transferred $1,20,000 (Dh440,757 approx) within two hours of the fake tweets sent by the hackers.

The cybersecurity experts also alert the users to try to identify a scam by taking proper security measures suggested by the experts.

Soon after Twitter got to know about the scam, it took extraordinary security measures to alleviate the impact of the attack by halting many verified accounts marked with blue ticks from sending tweets altogether.

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Password reset requests for such accounts were denied and some other “account functions” were reportedly disabled by Twitter.

The incident has been highlighted as some startling high-profile figures were involved in the scam. The Twitter team has already started working on identifying the root cause and for rectifying the issue.

The attack on the verified accounts utilized a standard spearfishing attack method to enable threat actors into the Twitter world and access to specialized organizational tools that have unhampered access to such accounts. While the attack itself is not exceptional, nor some intricate zero-day threat, the consequence of personnel within Twitter having such techniques and access to prominent accounts is indeed a serious concern.

Twitter confirms that its team is working with targeted account owners. The FBI’s San Francisco division is directing an inquiry into the Twitter scam, a report said in a statement on Thursday. The investigation was taken into account as the Washington lawmakers called for an answerable meeting of how it all happened.

The eminent accounts that were targeted also included the corporate accounts for Uber Technologies Inc and Apple Inc. Twitter is taking the extraordinary but understandable step of bringing down parts of its service while it investigates the root cause of this massive twitter hack scam. It also alerts users to avoid falling prey of such scams by being attentive to such unlikely messages and requests. It also informs users to understand the difference between a ‘gift’ and a scamming ‘trick’ that the hackers use. Hackers or scammers use such tricks by impersonating significant cryptocurrency figures or individuals.

Richa Sharma
Author

Enthusiastic for Technology, Richa Sharma has zeal in experimenting with her knowledge of Latest technologies. She keeps on updating her technical know-how thus pinning her name among the topmost COOs and her contribution is penned down by her thorough blogs on various technical aspects. She loves to decipher the latest technologies.

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