The recent Twitter hack has led to the questioning of Bitcoin’s potential. However, this has not affected the cryptocurrency.
The biggest hack in Twitter’s history occurred in recent days. To be more exact, the attackers put the Twitter accounts of some celebrities at risk, as part of an apparent Bitcoin scam.
The news caused a stir on social networks since it involved accounts of celebrities such as Barack Obama and Elon Musk, among others.
In this sense, many comments and discussions arose on social networks. Overall, many people assumed that the hack was somehow the fault of Bitcoin or the cryptocurrency community.
The hackers posted in the victims’ Twitter accounts messages requesting the latter’s followers to send Bitcoin to a specific anonymous address. In other words, the scammers used Bitcoin for their plans, which damaged the image of the cryptocurrency.
Was the Interest in BTC Affected?
Although Bitcoin is not responsible for the hackers using it as part of their strategy, that affects it.
The attack strengthened the anti-Bitcoin belief that many people still have, as though the hack had changed the potential behind the cryptocurrency.
After people learned about the event on Twitter, the price of Bitcoin dropped. No one can say that this was the cause, but it was undoubtedly an important factor.
However, regarding the interest behind Bitcoin, the cryptocurrency has managed to recover and increase in recent days.
This reaffirms the fact that Bitcoin has nothing to do with what happened, but that it was the scammers who used it as a mechanism to execute their plans.
Saying that Bitcoin is responsible for what happened is like saying that the US dollar is to blame for such terrible actions as drug trafficking and human trafficking, among others.
What Did the Attackers Get from the Hack?
The mass Twitter hack has been one of the worst cybersecurity breaches to date. This crime led to the breach of the accounts of great business and political personalities.
The massiveness of this attack may have led to its ineffectiveness. Using the accounts of people like presidential candidate Joe Biden and Amazon CEO Jeff Bezos, the hackers immediately activated the alarms of the cryptocurrency community.
They turned a deaf ear to the hackers’ promise to double the amount of Bitcoin that they sent to a specific address. This helped the result of the attack to be quite disappointing in monetary terms for the attackers.
When reviewing the operations conducted in the Bitcoin address that they used for scamming users of the cryptocurrency world, it is possible to observe that it only received 12.86 Bitcoin (equivalent to about USD 117,000).
Although the damage done to Twitter will likely cost the company several million USD dollars, the scammers’ gains have been minimal. Furthermore, the attention that they have drawn to themselves will surely lead the American police forces to pursue them.
To conclude, Twitter users must always be alert to any kind of misleading messages that could make them lose their cryptocurrencies. Furthermore, they should remember that Bitcoin is not responsible for the crimes that hackers commit.
By Alexander Salazar
