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Twitter Hack Resulting 367 Users Lost A Huge Amount of Money

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A massive cyber attack happened on various famous Twitter accounts, including Elon Musk, Bill Gates, Jeff Bezos, and others. The purpose is one thing, run a Bitcoin scam!

“In our estimates, within just two hours, at least 367 users have transferred around $120,000 in total to attackers. Neither a website/software is entirely immune to bugs nor is the human factor immune to mistakes. Therefore, any native platforms might be in danger,” Dmitry Bestuzhev, a Cybersecurity expert at Kaspersky, told IANS.

Twitter admitted it was a “coordinated social engineering attack” by people who successfully targeted some of our employees. The employee has access to internal systems and tools and later used by hackers.

Twitter CEO Jack Dorsey has also apologized.

“Tough day for us at Twitter. We all feel terrible this happened,” Dorsey tweeted after the accounts of major public figures including US Democratic presidential candidate Joe Biden, Barack Obama, Elon Musk, Bill Gates, Jeff Bezos, Apple, and Uber were simultaneously in control of the attackers to spread a cryptocurrency scam.

Cryptocurrency Is Untraceable

Cryptocurrency transactions don’t have the legal protections that you get with banks or payment card companies.

Paul Ducklin, Principal Research Scientist at cybersecurity firm Sophos said that there is no fraud reporting or cancellation for cryptocurrency.

“Sending someone crypto coins is like handing over banknotes to in an envelope – if they go to a crook, you will never see them again. If in doubt, don’t send it out!” he added.

“If purely digital companies like Twitter can be breached through social engineering attacks, then other organizations and individuals are not safe either. Cybersecurity is everybody’s responsibility and employees can be an organization’s best defense,” Himanshu Dubey, Director, Quick Heal Security Labs, told IANS.

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