Twitter Investigates Crypto Account Hacks

Kataryna Kovtun July 16, 2020

BitXmi

Twitter responded to a phishing campaign that hacked dozens of verified accounts of people associated with the crypto space.

“We are aware of a security issue affecting Twitter accounts. We are investigating the situation and taking steps to remedy the situation. Information will be published shortly.”

According to the post, some users won’t be able to tweet or change their passwords until the social media team fixes the issue.

Which Twitter accounts have been hacked?

As we already know, the actions of the scammers affected the accounts of crypto-exchanges, celebrities, journalists, and corporations, which have a large number of subscribers and have a publication plan for some time in advance. The accounts of Coinbase, Gemini, KuCoin, Gate.io, Bitfinex, OKEx, CoinDesk portal, the creator of Litecoin Charlie Lee, the Tron, and its CEO Justin Sun was hacked. They can post scheduled tweets, retweet messages from other users, but cannot post new content.

It seems that the restrictions did not affect regular users, who continued to post new messages throughout the phishing campaign. Scammers also continued their activities, offering to follow the link to the site where the “free distribution” of bitcoins was carried out. Of course, users had to send a small amount first to receive a much larger amount in the future, which is a classic scam scheme.

Unfortunately, the measures taken by Twitter did not stop the attacker, and as of 12:30 UTC, the hacker’s bitcoin wallet continued to receive cryptocurrency and had 12.8 BTC ($ 118,000) on its balance.

A few hours ago, the Twitter team wrote that the attack took place through hacking the accounts of employees of the social network platform. The hacked accounts were reportedly blocked and the tweets posted by the attackers were removed. Also, “measures were taken to restrict access to internal systems for the period of the investigation”.

Who could be involved in the Twitter account hacking?

Because the hackers’ attack affected a small part of Twitter accounts, it was assumed that someone from the company was involved in its conduct, who was offered a lot of money for confidential data.

Ripple CTO David Schwartz put forward a different version, according to which cybercriminals could use third-party applications to monitor postponed or future posts to gain control over verified Twitter accounts.

According to the information available to him, all the captured accounts used an older application that could steal passwords to log into an account.

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