According to several national news sources, a recent Twitter hack affected some high-profile accounts. Two mentioned in a Bloomberg report were former President Barack Obama and Tesla Inc. CEO Elon Musk. The hack was related to a Bitcoin (BTC) scam.
Twitter reacted by putting a temporary block on all verified accounts. This prevented users from making posts. They were unable to change any passwords while the investigation took place. The block remained in place while Twitter searched for a resolution to this issue.
How Is The Crypto Hack Tied To Twitter Security Breach?
The overall scale of the hack was described as ‘unprecedented’.
This only highlights Twitter’s past internal security issues. These issues were described as ‘significant’.
During this hack, the cryptocurrency exchange Coinbase stated that it had prevented a large amount of Bitcoin transactions. Furthermore, this added up to more than 1000 customers looking to send $280,000 in BTC. Coinbase was able to blacklist the hacker’s wallet address to prevent these transfers.
The hacking involved access to 130 Twitter accounts. It was estimated that 45 of these accounts were used to request BTC transfers. Coinbase shut things down when 14 users had already sent around $3000 in BTC. This is the biggest crypto exchange with 35 million users.
The Bloomberg post went on to list a few of the most prominent breaches going back to 2015.
US Military accounts were hacked to read “I love you isis” as a header message. This took place in January of 2015. The military viewed this as an act of “cybervandalism” and took those accounts offline.
In June of 2016, more than 32 million Twitter passwords were stolen. They were listed for sale on the dark web according to TechCrunch. Twitter denied that its own system was breached.
In November of 2017 Donald Trump’s Twitter account was deactivated. The account was shut down by a disgruntled customer support employee. It remained down for 11 minutes. This raised some serious questions about the internal level of security. It also resulted in a call for a higher level of internal oversight by Twitter management.
Moving to November of 2018, a security glitch led to the exposure of user’s country codes. This information was part of an account’s associated phone number. The targeted areas were China and Saudi Arabia.
Jack Dorsey is the CEO of Twitter. In August of 2019, his account was hacked with a follower base of four million. Offensive and racist tweets were posted and remained online for 20 minutes. Twitter stated, “The phone number associated with the account was compromised due to a security oversight by the mobile provider.” Later, the Chuckling Squad took credit for the hack.
As recently as January of this year, the NFL was hacked. Leading up to last season’s Super Bowl as many as 12 team accounts were involved. A Green Bay Packers’ post stated “We are here to Show people that everything is hackable.” The group OurMine claimed responsibility for that hack. Twitter claims the hack was through a third-party platform.
Crypto Hack Tied To Twitter Security Breach
During the crypto hack, the cryptocurrency exchange Coinbase stated that it had prevented a large amount of Bitcoin transactions, which was tied to Twitter security breach.