Hackers hack Twitter to spoof Bitcoin and only “make” $110,000

The Twitter accounts of some of America’s most prominent political and business leaders were hacked Wednesday afternoon, with Bitcoin scams. These political and business figures include Barack Obama, Joe Biden, Bill Gates and Warren Buffett.

The scope of the hacking was staggering, with the likes of Jeff Bezos, Elon Musk, Kanye West, Uber Technologies, Apple Inc. and Michael Bloomberg, founder and majority shareholder of Bloomberg. The celebrities’ Twitter accounts have sent out a tweet saying they will double their amount within 30 minutes if they transfer to their Bitcoin account address(BTC address).

Twitter said it was aware of the security incident and was investigating. As the hack unfolded, some verified Twitter accounts suddenly lost the ability to post new tweets. Twitter wrote on its support account: “You may not be able to post tweets or reset your password while we review and deal with this incident.” The company’s shares fell more than 3 percent in after-hours trading.

So far, the bitcoin account addresses posted by hackers on Twitter have received more than 12 bitcoin transfers worth more than $110,000. Currently, The Bitcoin exchange Coinbase has blocked its users from sending money to the account address.

According to some of the Twitter accounts that came under attack, they used two-factor authentication and strong passwords on their accounts. These fraudulent tweets were posted using Twitter’s web app.

According to TrendMap.com, the fraudulent tweet, titled “I’m giving back to my community because of the new crown virus,” has been retweeted 3,330 times on Twitter in the past four hours. A hotspot map provided by the site shows the event, which is houston-centric and spread around the world, including IP addresses from New York, London, Spain, Italy, Jakarta and Tokyo.

Twitter has faced several high-profile attacks by hackers in the past, including one against its chief executive, Jack Dorsey, via SIM swap – meaning hackers have found a way to mimic account phone numbers and send tweets via text messages. After a series of incidents, Twitter closed the text-messaging feature to address the loophole. Earlier this year, on the eve of the Super Bowl, the official Twitter accounts of more than a dozen NFL teams were hacked.