High-profile Twitter accounts hijacked to push Bitcoin scam

Saturday, 18 Jul, 2020

The hijacked Twitter accounts were immediately locked and the crypto scam tweets were removed by Twitter's team and, as announced right after the attack was spotted, functionality was limited to high-profile accounts (including verified profiles) to limit the impact on the platform.

While Twitter, Facebook and other social media companies have since tightened their election security systems and policies, malicious actors trying to intervene have also improved their tactics.

Twitter said the hackers had targeted its employees "with access to internal systems and tools".

Twitter hasn't replied to a request for remark, so we simply can not just be positive that individuals safeguards are what stopped the attackers from hijacking his account on Tuesday. As Tae Kim at Bloomberg wrote, at the very least the hack has revealed Twitter's engineering prowess and management practices are subpar.

The user behind the post, a member named "Chaewon", was charging $250 to replace a Twitter user's email and between $2,000 to $3,000 for direct access to specific accounts. "Where does all the money go?"

The fiasco raises a host of questions, chief among them: should we still trust Twitter? The FBI is investigating, and the Senate Intelligence Committee asked for a briefing.

According to Grygiel, the warning signs that Twitter is too vulnerable to hackers to carry the messages of world leaders have flashed for years.

Twitter CEO Jack Dorsey promises that it will offer a report of what happened once the Twitter team has a better understanding of what exactly it is that happened.

Concern about access to direct messages stems in part from broader worries that they could be leaked as part of a campaign to influence the US election in November.

It is also unclear why the hackers used an old address to perform the attack, as it appears to be giving unnecessary clues for the future investigation.

"The accounts appear to have been compromised in order to perpetuate cryptocurrency fraud", the FBI's San Francisco field office said in a statement. We advise the general public to not fall sufferer to this rip-off by sending cryptocurrency or cash in relation to this incident. Here is everything that we know so far. At publication time, many accounts who were victims of the hack have yet to tweet, suggesting that their accounts are still locked. Connor may not have acted alone, however, since he's linked with a group of hackers known as ChucklingSquad.

But there is no evidence that a screenshot, allegedly taken from Mr Netanyahu's Twitter account, is anything other than a fake. Elliptic Forensics estimates that a little over 400 payments were made due to the hack, leaving the hackers withs a total value of $121,000.

The scale of the endeavour and its timing - months before the November US elections - have prompted some cyber security experts to theorise that the attack masked a more nefarious campaign to seize sensitive data.

Although the hack has been halted for now, there are concerns that the attackers may be sitting on stolen credentials.

As the compromised accounts began tweeting the scam in a coordinated manner, many speculated on how they attackers pulled off the massive compromise.

The company hasn't released detailed information on what happened. Other methods include installing technical tools to monitor for suspicious insider activities and reducing the number of people who have access to an administrative panel, Tobac said.