Twitter Following Crypto Hack – New Restriction Impacts Legit Accounts
It’s been recently reported a few days ago that Twitter has been hacked, and a lot of high profile accounts were controlled by the bad actor for a while.
They hacked some accounts that had even a few million followers in order to spread a crypto scam.
The compromised accounts included Apple, Elon Musk, Joe Biden, Binance, Coinbase, and more. Twitter has been addressing the issue, and they said that they continue to investigate the problem.
We’re working with impacted account owners and will continue to do so over the next several days. We are continuing to assess whether non-public data related to these accounts was compromised, and will provide updates if we determine that occurred.
— Twitter Support (@TwitterSupport) July 17, 2020
Twitter takes action following the recent hack
As a response to what had happened, Twitter is restricting the sharing of crypto addresses on its platform.
Based on data from cryptocurrency compliance firm Elliptic, the wallet used in the Bitcoin scam received more than 400 BTC transactions – these added up to a total cash value of $121,000 at time of publishing.
Right the incident, Twitter initially disabled the resetting of passwords and they also made sure to block some accounts from posting tweets.
It’s been revealed that Twitter also blocked users from posting long strings of random characters in order to prevent cybercriminals from sharing their Bitcoin addresses.
New restriction impacts legit accounts
On the other hand, a downside of this situation is the fact that the new restriction is impacting legit Twitter accounts.
Whale Alert, which is tracking large crypto transfers recently reported that it is now blocked from sharing transaction IDs because of the new anti-hack measure, as revealed by the online publication the Daily Hodl.
“Whale Alert bot can no longer post any transfers and we cannot manually add them either. We hope Twitter will resolve the issue soon.”
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.