Twitter has suffered the worst security incident in its history this week with dozens of high-level accounts compromised.
Attackers hijacked the Twitter accounts of presumptive Democratic presidential nominee Joe Biden, former president Barack Obama, Tesla chief executive Elon Musk, and billionaire philanthropist Bill Gates, along with dozens of others, using them to post a bitcoin giveaway scam.
Twitter attackers have controlled to defraud other people worth $100,000 in bitcoins, but knowledge of some of the world’s largest bitcoin exchanges shows that they may have gotten many more, with at least $300,000 of bitcoins held back through the exchanges.
As the attack spread on July 15, Twitter and Bitcoin exchanges around the world scrambled to prevent hackers from receiving more Bitcoin. Twitter, first of all, temporarily prevents all verified users from tweeting before blocking any posts that appear to have a bitcoin address.
Bitcoin exchanges, on the other hand, have “blacklisted” the bitcoin addresses used through scammers, preventing them from being sent from their exchanges to the scam.
Coinbase, the largest exchange of bitcoins and cryptocurrencies in the U.S. With around 35 million users worldwide, he said he prevented more than 1,100 Coinbase consumers from sending a total of 30.4 bitcoins, worth approximately $280,000, to the scam.
“We saw it about a minute after the tweets of Gemini and Binance,” Philip Martin, Head of Data Security at Coinbase, said in an interview. Bitcoin Gemini and Binance exchanges were attacked from the beginning via hackers, just before Coinbase.
According to Martin, only 14 Coinbase users had to send a value of $3,000 of bitcoin to the Bitcoin scam to deal with it before Coinbase blacklisted it.
“It was an incredibly small organization of Coinbase users who tried to send bitcoins to the fraudulent address,” Martin said, adding that the San Francisco-based inventory exchange, which would be prepared for an inventory market directory that could happen as soon as this year, the addresses of bitcoins and cryptocurrencies used through scammers are blacklisted.
Other bitcoin exchanges, adding New York-based Gemini, owned by San Francisco-based Winklevoss twins, Kraken and Binance, without a constant solution, all showed that they had prevented the budget from circulating in the handling of bitcoins of the hacker, their combined users No. Try to send as much as Coinbase.
“This piracy shows that security is a matter of layers of protection,” Jesse Powell, Kraken’s executive leader, said in an email. “Someone wants to monitor directors and put position alerts to monitor those vulnerabilities.”
“Twitter hacking a more widespread event, however, scams of this nature are not new. Kraken proactively monitors this type of activity and blocks the secure addresses we encounter. Like any other scam, we proactively block Twitter hacking addresses. This week.”
Meanwhile, the blacklist of certain Bitcoin addresses, including those used through scams and scammers, has led some members of the Bitcoin network to warn about the option that primary cryptographic exchanges possibly censor Bitcoin transactions deemed undesirable.
“The precept we need to pay attention to is the relief of threats without reducing the underlying usefulness of the asset,” Martin said, adding that Coinbase digs up extensively seeking “to save others from being robbed of cash when it is within our force.” to save you.”
Others, adding bitcoin exchange and London-based luno-based cryptocurrency, should teach their users about scams.
“We’ve taken steps in the app to prevent our consumers from falling victim to scams, adding the blacklist of known fraudulent addresses and also a contextual precautionary box if we come across that they are about to move the budget to a known fraudulent address.” Marcus Swanepoel, Luno’s chief executive, said by email, adding: “If it sounds too smart to be true, then that’s the case.”
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