Mass Twitter Hack Collects a 6 Figure+ Payday Using Bitcoin Scams

in LeoFinance2 months ago

Mass Twitter Hack Collects a 6 Figure+ Payday Using Bitcoin Scams.png

Today marked the day of one of the most widespread Twitter hacks that we've seen in the platform's history. It wasn't just any attack - it was a coordinated attack that took over the accounts of many prominent global figures and companies and spread a message to deposit Bitcoin.

Twitter Support Confirmed the Attack Today

Once Twitter confirmed the hack, there were shutdowns of various account features for verified users, which made it harder for the propagation of more fake tweets.

The following tweet was the one posted from Elon Musk's account. They all generally had the same message:

These tweets are not uncommon. They happen all the time but usually in different forms. People make fake twitter accounts that look almost identical to the persona that they're trying to spoof. Those tweets have similar asks - telling people to send Bitcoin and receive twice as much back.

Bad for Bitcoin?

A lot of people would say that this is bad for Bitcoin. It portrays that nasty image that we continually hear from high level "Bitcoin haters" who like to talk about Bitcoin as a boon for criminal activity rather than a currency for the internet.

Let's keep in mind that the #1 most used medium of exchange in the world for criminal activities is the U.S. dollar. Cash is king of criminal activity.

In my opinion, this is a net neutral event for Bitcoin. Sure, it's some bad press in the sense that people are seeing Bitcoin be used as a tool for crime but it is also a positive in the sense that people are seeing Bitcoin in the media.

any press is good press amirite?

A Push for Education

What I'd like to push for in a time like this - when people who both have some knowledge of cryptocurrencies and people who have no knowledge of crypto currencies see publicity about it - is the idea of crypto & financial education.

The world as a whole needs more financial education in their lives. We all collectively need to stay on top of finance and understand the nuances of currency, investment, etc.

The fact that over $100,000 in Bitcoin was actually sent to these scam addresses (and that was earlier today - the number is probably a lot higher now) on the promise that you would receive double your money back instantly is preposterous.

How are people falling for the idea that they can send Bitcoin to an address and double their money instantly for 0 effort at all?

Any financially educated person would know that they were looking at a complete scam. To send money to one of these wallets would be akin to kissing your money goodbye for ever.

Still, there are naive people out there and we can't protect them all from seeing scams. What we can do is spread the message of education both in and out of crypto. Cryptocurrencies might be notorious for scams, but they are also known for being an incredible tool for empowering the masses to control their own finances.

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The ones that sent the BTC should be required to spend an hour a day for a year on Leofinance.

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hahahaha. Really, LEO School of Cryptocurrency

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Yeah that would teach them a thing or two. Events like this really put what we're all building here into perspective

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What I'd like to push for in a time like this - when people who both have some knowledge of cryptocurrencies and people who have no knowledge of crypto currencies see publicity about it - is the idea of crypto & financial education.

This is the fact. People must genuinely seek-out for cryptocurrency education and we must position ourselves to be of help to such who would beckon. Without knowledge and from the right place, many more losses would be.

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Education is everything - something you know very well. The more we can educate the masses, the better our collective future (both in crypto and outside of this space).

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Search Ways To Make Money Online on Google and start scrolling. Any number of those posts are scams. The only reason most people don't call them scams is because a few people really are making some cash while the rest support the pyramid. Many are extremely misleading on what they promise compared to what you actually get. And they'll sue you if you do post anything negative about them. It's ridiculous. BTC should be the least of people's worries.

Bottom line is....people just throw their money away online everyday.

I agree completely. There are so many scams out there on the internet, that fact is nothing new.

I tweeted something out earlier that talked about the media headlines about this event - they're all screaming about how a Bitcoin thief is stealing money. The real headline is that it's not a Bitcoin thief, it's a Twitter hacker.

Twitter is the vulnerability, not Bitcoin.

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There are always scams going on out there. It's a constant thing that I have seen many times while I have been online. I have had a scam on FB and IG both tell me I won a big prize but to claim it I have to pay so much money. Similar scam as what happened on Twitter today but for actual cash and not crypto. Nothing is safe you always want to be on guard and question everything.

Question everything is absolutely right. That's why free ways to deposit money and make more money should always bring a great degree of skepticism.

One of the many things I love about Hive - we can invite people to make posts here and they don't need to invest a penny outside of sweat equity to start earning something. You won't get rich over night and it takes a lot of work... just like anything REAL and worthwhile - you have to put in the work and there is no shortcut

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This is crazy, that is so much! People tho should almost know better by know, especially if they are actively using twitter, that if it is almost too good to be true, it definitely is, and its a scam. If you use technology at all, this is the first rule you should learn almost, and it isn't that hard, just don't bite on things that take 0 effort, everything that is worth something takes effort to produce, that is a rule of thumb I live by. Thanks for sharing!

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I'm with you. Anything that is too good to be true probably is.

If it's too good to be true AND it involves crypto.. then it definitely is

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and this scam could be, and probably is, just a tip of the iceberg. They had access to all that accounts, i bet they poked around.

Scams will always come and go. I just hate that innocent people get caught in the crossfire. I agree though, this is probably 1 of many attacks in the near future (especially with the coming election cycle)

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I was watching this live just before going to be and even said to my wife, this is huge. This morning as I was driving to work she calls me because even her Hebrew news app is talking about the hack!

Incredible.People are in desperate need of financial education.