Tim Draper Tweeted He Bought Bitcoin Cash (BCH) & Thanks Roger Ver; Turns Out To Be A Hack

Twitter hacks targeting the crypto community have become unfortunately commonplace. American VC and serial crypto investor, Tim Draper, appears to be the latest victim of such scams. Well known for his bullish sentiments on Bitcoin, a September 4th tweet vouching for Bitcoin Cash (BCH) came as a surprise to his followers.

Tim-Draper-Bitcoin-Cash
Source: @TimDraper – Now Deleted Tweet

The Bitcoin bull had personally thanked a pseudo ‘RogerVer’ account for a ‘seamless experience in purchasing BCH through the Bitcoin.com platform.’ João Almeida, the co-founder of OpenNode, has since confirmed that a hacker was actually in control of Draper’s account at the time.

“I was in contact with his team. He deleted the tweet as soon as he was aware.”

While this is the only solid confirmation out there yet, some skeptics are of the view that Draper might have been promoting BCH, but it went wrong. A Twitter account dubbed ‘Whale Panda’ highlighted this perspective, noting that it might have been a ‘clueless or paid tweet that backfired.’ Interestingly, the serial cryptopreneur was among the investors in OpenNode’s 2018 seed round.

Like many other crypto investors and innovators, Draper has been associated with some scamming shortfalls, brushing shoulders with the crypto community at times. The Venture Capitalist’s DeFi backed project ‘DeFi Money Market,’ which launched in June, saw Telegram scammers rip off $40,000 from unsuspecting investors during its Initial DEX offering (IDO).

Crypto Scammers Swarming Twitter

As earlier reported by BEG, Twitter has become a playground for crypto-oriented scams. The Jack Dorsey-led social media platform is now a double-edged sword to the crypto community; At the same time, most stakeholders leverage its networking aspect; hackers are on the rise to capitalize on naïve market entrants as well as the unsuspecting crypto enthusiast.

Going by the latest updates, India’s PM Narendra Modi was a recent victim of a crypto giveaway scam that targeted his twitter account. Other prominent personalities that have been hacked similarly include Joe Biden, U.S Democratic presidential candidate in the upcoming elections.

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Author: Edwin Munyui

Twitter Hackers Accessed 36 DM’s From Compromised Accounts in Large Scale Bitcoin Scam

Twitter has released an update following last week’s hack, which saw over 100 accounts compromised. The social media giant confirmed on July 22 that the hackers accessed the direct messages of some of these exposed accounts. Some notable mentions include Geert Wilders, an elected official in the Netherlands, and Coindesk’s.

“We believe that for up to 36 of the 130 targeted accounts, the attackers accessed the DM inbox, including one elected official in the Netherlands. To date, we do not indicate that any other former or current elected official had their DMs accessed.”

They were, however, keen to highlight there are no indications that any other former or current public officials, some sort of relief given Joe Biden and Barack Obama’s accounts were among the compromised. Nonetheless, Twitter has found itself at a tricky position in the past week, this new development following a review of the 130 accounts might just be the beginning of more frequent updates before the platform fully recovers from the recent hack.

The firm is communicating with the account owners that were exposed, with some yet to gain back access to their accounts. Notably, these hackers who scammed $120,000 worth of Bitcoin from tweeting with 45 of the accounts also downloaded the archive twitter data of 8 accounts, including Coindesk’s.

Jitters are now emerging from stakeholders, including federal lawmakers on Twitter’s security practices. The firm’s DMs have previously been faulted as below standard when it comes to encryption. However, it’s not clear whether the hackers got inbox access directly via the compromised administrative tool. With the FBI and other agencies now on the case, things might develop faster than we thought!

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Author: Edwin Munyui

Government Agencies Are Now on the Bitcoin Trail to Identify Twitter Hackers

The US Federal Bureau of Investigation (FBI) is now leading a federal inquiry into the Twitter scam after hackers seized control of “approximately 130 accounts” including those belonging to Jeff Bezos, Elon Musk, Barack Obama, Warren Buffett, Joe Biden, Kim Kardashian, and others in a bitcoin-related scam, reported Reuters citing unnamed two sources familiar with the matter.

“We are aware of today’s security incident involving several Twitter accounts belonging to high profile individuals. The accounts appear to have been compromised in order to perpetuate cryptocurrency fraud,” said the FBI.

Before some of the most high-profile users were compromised, the emails linked to Twitter accounts went for sale on gray market sites. While an email was up for $250 in digital currency, for $2,500, the buyer would get the account itself.

In theory, social media companies ban the sale of accounts, but an administrator at OGUsers, the account trading forum, told Reuters that the internet firms “pick and choose when to enforce that rule.”

Political Effect

Amidst this, Twitter has also stepped up the search for a chief information security officer.

The company meanwhile continues to lock accounts that had changed passwords in the past month but believes “only a small subset of these locked accounts were compromised.”

In a rare bipartisan agreement, both Democrats and Republicans say Twitter must explain how the security breach happened and what it is going to do to prevent future attacks.

“This hack bodes ill for November balloting,” U.S. Senator Richard Blumenthal said in a statement while scolding Twitter for “its repeated security lapses and failure to safeguard accounts.”  Senate Commerce Committee chairman Roger Wicker requested more information on the hack.

Joe Biden Bitcoin
Source: @JoeBiden Twitter

President Donald Trump’s account was not jeopardized during the attack, said spokeswoman Kayleigh McEnany. The White House has been in “constant contact with Twitter over the last 18 hours” to keep Trump’s Twitter feed secure,” she said.

Tracking the Money

Meanwhile, investigators are scouring for clues with those behind the security incident that scammed $120,000 worth of BTC out of people, shifting the funds around online accounts creating a digital paper trail.

The attackers received a total of $121,000 from over 400 payments, the largest one of $42,000 came from a Japan-based exchange, according to Elliptic which helps law-enforcement agencies track crypto-related crime.

About $65,000 were quickly moved to other bitcoin addresses, $60,000 of this were directed to an address that has been active since May and interacted with Coinbase and payment processors Bitpay and CoinPayments, said Whitestream, a blockchain intelligence company.

BitPay confirmed this, and a spokesperson said, “Available details are being shared with appropriate parties including law enforcement.”

The funds initially collected in three bitcoin addresses have been moved to 12 new addresses, as per Elliptic.

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has asked crypto exchanges and other financial institutions to report any suspicious activities related to the hack, in an advisory issued on Thursday. The New York Department of Financial Services will also investigate the incident, said New York Governor Andrew Cuomo.

According to cyber researchers investigating the issue, the motive behind the attack was bragging rights more than financial gains.

“This doesn’t look like a particularly sophisticated hacking group,” said Roi Carthy, the chief executive of Hudson Rock.

“Why go through all of the effort of stealing these credentials, just to make a few bucks.”

The Twitter accounts of crypto exchanges could have been used to torpedo the price of bitcoin or make millions of dollars by shorting Tesla and sinking its price by using Musk’s account. Carthy said,

“There are so many better ways to scam crypto than what they did.”

However, it also makes sense they went with bitcoin because the digital asset was the best performing asset of the last decade and has been up over 135% since the March crash. It can also be used worldwide.

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Author: AnTy

Good For Bitcoin? BTC is Now Trending after Exploding on Twitter

A ton of blue check twitter accounts got hacked to promote bitcoin-related scams.

Hijacked accounts claimed that they were going to give people bitcoin or double their stash after they sent some to an address first.

This went on for a long time, and now Twitter is investigating the matter which it says is a “coordinated social engineering attack” using the internal tools and systems. As we reported, the hacker only managed to scam 12.8 BTC, worth $120,000, out of people.

Interestingly, Twitter co-founder and CEO Jack Dorsey is a bitcoin supporter who believes BTC could one day become an internet currency, and his bio simply reads Bitcoin.

According to some members of the crypto community, this is all good for bitcoin. It rings true given that not only ‘#TwitterHacked’ is trending on the social media platform but also #Bitcoin.

Being such a big incident having attacked the accounts of Elon Musk, Jeff Bezos, Warren Buffett, Joe Biden, Barack Obama, Benjamin Netanyahu, Kanye West, Kim Kardashian, Michael Bloomberg, Apple, Wendy’s, Uber, and others, the world’s leading cryptocurrency is getting a lot of attention.

“Millions of people around the world are about to hear about Bitcoin again in the following few hours,” said economist and trader Alex Kruger. “Today’s hacks will be in every newspaper and media channel.”

While some like trader DonAlt voiced concern that “It’s kind of crazy that crypto will be forever associated with scams in a lot of people’s mind after this,” adding “hope the saying “There’s no such thing as bad publicity” rings true for crypto.”

Some good did come out of this as Congressman Tom Emmer said,

“Bitcoin isn’t the problem. Centralized control is.”

Also, Blake Robbins of Ludlow Ventures, who previously worked at Google, Nest, and SpaceX, shared his intention to stack some sats.

“I sort of want to buy Bitcoin now?” he tweeted.

For now, the price of bitcoin is unaffected, currently trading just over $9,100, down 1.80%. It did take a small, less than 2% drop from $9,200 after the incident happened but remained in the range it has long been stuck in.

According to trader DonAlt, the digital asset could squeeze upwards in the short term but is bearish in the mid-term.

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Author: AnTy

Twitter Found the Solution to Bitcoin Scams, No More Cryptocurrency Addresses Allowed

That’s right!

It was this easy, just not let anyone post cryptocurrency addresses on Twitter, no more crypto scams.

When trying to post a tweet containing a cryptocurrency address, Twitter prompts the message “Something went wrong, but don’t fret — let’s give it another shot” in a glaring red strip.

Well, given that hackers are smart and always one step ahead of companies, it won’t be long before they find a solution. They don’t even need addresses; their one-page website seems to do the trick already. Soon, deep-fakes are expected to “revolutionize the scam market” already, as reported by the Crypto Whales in its report.

Moreover, companies are not proactive, it takes several attempts to report a scammer, and it still doesn’t get it down.

Twitter’s latest ban of crypto addresses altogether from the social networking platform could be just a fix before they find the solution, which comes after last night’s major Twitter accounts including the likes of Elon Musk, Jeff Bezos, Bill Gates, Barack Obama, Joe Biden, Kanye West and many more getting hacked and used to promote bitcoin-related scams.

Twitter is currently investigating the hack, which is believed to be a “coordinated social engineering attack” by using the “internal systems and tools.”

All the accounts hacked asked people to send them bitcoin in order to get it double, and the hacker was able to swipe nearly 13 BTC, worth about $120,000.

These kinds of scams aren’t anything new. They have been going on for a long time, given that the scammer was able to get only 13 BTC out of it.

As we reported, in just the first six months of 2020, scammers made off with about $24 million in BTC, which is predicted by Crypto Whale to reach $50 million by this year-end, over twenty-fold since 2017.

Also, BTC giveaways bearing the name of Tesla CEO and the founder and CEO of SpaceX, Musk has already been raking in more than $2 million in a matter of months.

Earlier this year, Musk called out the scams saying, “the crypto scam level on Twitter is reaching new levels,” in response to such a giveaway scam.

He urged people to “report [the scam] as soon as you see it,” and encouraged Twitter to delete the bots and scammer accounts.

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Author: AnTy

Bitcoin Scammers Have Stolen $24 Million in First Half of 2020: Whale Alert Report

In the first six months of 2020, scammers made off with about $24 million in bitcoin, as per the Twitter bot Whale Alert’s latest report.

These scams involved giveaways, sextortion, fake exchanges, fake ICO’s, bitcoin recovery, video scams, Ponzi schemes, fake tumblers, malware, and so on.

Over the past four years, $38 million worth of Bitcoin has been stolen by scammers (excluding Ponzi schemes), out of which $24 million belongs to the first half of this year alone.

The scam market, which is characterized by high profits, no taxes, minimal effort, and zero risks, will be “grown over twenty-fold since 2017 to annual revenue of at least 50 million US dollars” by the end of 2020, predicts Whale Alert.

Whale Alert noted that the “most successful scams” made more than $130,000 in a single day with just one-page website, a BTC address, and YouTube advertising. One scam managed to rake in over $1.5 million over six months, promoting a fake exchange with an amateurish website riddled with spelling errors.

The “Giveaway” is another successful one that features celebrities like Elon Musk, netting around $300,000.

According to the crypto tracker, it’s only a matter of time that a professional team of scammers will start using systems like deep-fakes. The latter being a technique where a person’s face is superimposed over another person in an image or video, which it says “will surely revolutionize the scam market.”

The origins and destination of these scam proceeds have been traced to some of the top exchanges, payment providers, and gambling sites who willingly or unknowingly participate in these crimes.

It is high time that we act as a community, or “the reputation of blockchain might not be able to recover in the long run,” said Whale Alert.

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Author: AnTy

Justin Sun’s Tron Follows Binance to Become 4th Crypto With Twitter Branded TRX Emoji

Tron (TRX) became the fourth cryptocurrency to receive its branded Twitter hashtag emoji after successive additions of the top crypto, Bitcoin (BTC), exchanges native Crypto.com token, CRO, and Binance Coin (BNB), which was added on Thursday this week.

In an announcement on the official Tron Foundation page, Twitter users can now view the TRX logo beside any of the following five hashtags; #TRON, #TRX, #TRONConference, #TRONAnniversary, and TRONGreatVoyage. The latter two are possibly targeting TRON’s upcoming August 29 mainnet live launch anniversary and the TRON 4.0 launch, named the ‘Great Voyage,’ later this month, respectively.

The total cost to acquire these branded emojis is still undisclosed, but some reports point that this branded emojis cost in a range of $10,000 to $50,000 spent in Twitter ad money to acquire.

Bitcoin (BTC) led the advent of crypto emojis on the platform with Jack Dorsey, the founder and CEO of Twitter and Square, a payments firm that supports Bitcoin development, launching the service on his bio page.

Giving back to the community

Every move is a marketing opportunity for TRON Foundation, led by Justin Sun. He took this opportunity to do a giveaway to his followers to help advertise the new TRX emoji.

For a chance to win TRON merchandise, MacBook Pro, iPhone 11, and a pair of Airpods Pro, users should follow the array of Twitter accounts under the Tron Foundation, add the new TRX branded Twitter emoji on their bio page and share the screenshot on Justin’s post.

A foul taste

The addition of TRX emoji and widespread marketing campaigns have not rubbed off well with everyone in the crypto space. One community is the rival blockchain, Ethereum, which is yet to receive its own Twitter emoji despite being the second-largest cryptocurrency.

Vitalik Buterin, the founder of Ethereum, also expressed his criticism in response to TRON fanatic and Reckless VR founder, Udi Wertheimer, stating TRON deals with 10X more flaws than ETH but receives less bashing from seasoned Bitcoiners. He shared a screenshot in a bid to explain the “TRON stanning” across the BTC community:

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Author: Lujan Odera

After Trolling Bitcoin, Harry Potter Author JK Rowling Moves to Ethereum, Is XRP Next?

Last week, Harry Potter author JK Rowling got the Crypto Twitter started by asking the question, “I don’t understand bitcoin. Please explain it to me.” CT hasn’t even overcome that excitement that Rowling has restarted it all yet again.

This morning she took to Twitter to share some bits of “hard-won” advice which included “Never be flippant about Bitcoin on Twitter.” Given that CT is still explaining her Bitcoin, it makes sense. Then she took one step further and elaborated this hard-won advice,

“my mentions are still full of people trying to get me to buy Bitcoin or to explain it to me. It’s very kind of you, but I swear, I now feel fully educated on the subject.”

But as Hodlonaut said, “Bitcoin won’t go away. Fully educated or not, you will be hearing a lot about it going forward.”

But it wasn’t all.

Rowling then responded to media coverage about her joining the bitcoin community with the threat of boosting her Ether holdings. she said,

“This is getting silly. I’m not joining the Bitcoin community. It should be perfectly obvious by now that I’ve been trolling Bitcoin in the hope of boosting my significant Ethereum holdings.”

Oh! She did not.

Rowling might have flipped through or missed Ethereum co-founder Vitalik Buterin’s explanation of Bitcoin from the weekend but unfortunately, we all remember and CT doesn’t forget as we keep the screenshots.

His explanation included the world’s leading cryptocurrency “not backed by anything,” being just like a collectible that is not controlled by a single group of people and as such no one “can just go and issue more units to their friends or manipulate its rules for political reasons.”

Also, a combination of global payment systems and store of value tied with the bow of “21st century cryptographic tech.”

So far, Buterin hasn’t jumped in to define Ethereum but the day is just getting started.

Rowling, however, clarified that “this is also a joke.”

But with Day 3 dedicated to Ethereum (ETH), does XRP also have a chance now?

Only tomorrow will tell!

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Author: AnTy

Crypto Lender Dharma Rolls Out ‘Social Payments’ on Twitter; Send USD to Any Account

Decentralized crypto lending platform Dharma has added support for payment via twitter, where a client can send US money to any Twitter account irrespective of its geographical location. The new feature would be called social Payment and the receiver of the payment would not be required to have a Dharma account in order to get the social payment.

The announcement was made via Dharma’s official Twitter account on April 21st which would permit all Dharma customers to send US money from their smart wallet as long as they have the required amount in the wallet. The sender would also need to retweet the tweet to the payment bot and tag the recipient so that they would be notified about the payment received.

Once a user receives the payment through the Social Payment system, they would be required to click on the attached link when they receive the notification and create a Dharma account which they would be required to connect with their Twitter account. Since Dharma is decentralized lending platform where users can hedge funds and earn interest on that hedged fund, even the fund received via Social Payment can begin to earn interest for the receiver well before the receiver makes a Dharma account to claim the award.

Dharma is not the First to Introduce Payment Via Social Media

Dharma believes its Social Payment system could have numerous uses be it for tipping micropayments on social media, or charitable donations across the border as well as sending and receiving business payments.

Dharma’s Social Payment might sound familiar to those who are associated with the decentralized space and that’s because Brave has already introduced a similar system back in August last year where Twitter users can use Brave’s Twitter tipping service to make micropayments and tips in Brave’s native Basic Attention Token (BAT). Apart from Dharma and Brave even Lightning network has tried their hands at micropayments via social media in the past quite similar to Brave and Dharma.

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Author: Rebecca Asseh