Friday, October 23, 2020
No menu items!
  • News
  • Bitcoin
  • XRP News
  • Contact Us
More

    David Schwartz Suggests What Made Ripple and Others’ Twitter Accounts Easy To Breach for Hackers

    Must Read

    PayPal in Talks to Acquire Cryptocurrency Firms, Including BitGo

    Just two days after announcing its support for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), the...

    Ripple Is Considering Japan and Singapore as Its Likely Destinations

    Ripple, the cross-border payment firm based in the United States, has been considering a number of countries with a...

    PayPal to Launch Buying and Selling of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) On Its Platform

    PayPal Holdings Inc, an electronic commerce company that facilitates payments between parties through online transfers, has recently joined the...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    The CTO at Ripple, David Schwartz has recently hinted at what possibly made the Twitter accounts of companies and important personalities easily breached by Bitcoin scammers. The victims of the coordinated perpetration include Ripple, Elon Musk, Binance, CZ, Bill Gates, Justin Sun, Coinbase, CoinDesk, among others.

    Twitter Accounts Got Breached By Hackers

    It became a pandemonium across all social media after the Twitter accounts of the world’s most notable personalities and businesses got compromised by desperate and coordinated hackers.

    After the successful breach, the scammers started using the dominated accounts to lure unsuspecting BTC holders into a fake giveaway of Bitcoin.

    Some messages on the compromised Twitter accounts stated that the owner of the accounts had partnered with “CryptoForHealth” and were giving away 5,000 BTC to the community.

    This strategy, whereby, scammers lure users to send them crypto, promising to send back double of the amount, is usual with the crypto ecosystem. But this recent perpetration is simply overblown. The point of taking their callousness beyond the crypto space to the conventional business world has exposed Bitcoin to negative representations.

    Many major news outlets are now chanting “Bitcoin Scam”, which is basically the wrong representation of the whole scenario. Scammers only took advantage of the breached accounts to siphon BTC.

    David Schwartz Hints At the Possible Cause of the Hack

    The Ripple CTO, David Schwartz was one of the crypto big guns that used their capacity to inform the crypto community members about the breached Twitter account and the enterprise of the scammers.

    In the middle of the perpetration, David Schwartz wrote:

    ‘CAUTION: There is a massive effort underway to steal cryptocurrencies. DO NOT SEND cryptocurrencies to anyone who sends they will send you more back. It does not matter who the Tweet comes from. IT IS A SCAM.”

    As dust started settling down gradually, many suggestions about the means they used to beat Twitter’s security before the takeovers started flying around.

    According to the Ripple CTO, all the accounts that were hacked used third party monitoring services, which opened their accounts easily for intruders to penetrate.

    Schwartz tweeted, “The latest I’m hearing is that all of the compromised accounts used third party scheduling/monitoring services that had read/write app access to their accounts.”

    The investigation about the unauthorized takeover is still ongoing. The Twitter CEO Jack Dorsey has promised to unravel the cause of the breach and get back to the community.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    PayPal in Talks to Acquire Cryptocurrency Firms, Including BitGo

    Just two days after announcing its support for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), the...

    Ripple Is Considering Japan and Singapore as Its Likely Destinations

    Ripple, the cross-border payment firm based in the United States, has been considering a number of countries with a better regulatory atmosphere following its...

    PayPal to Launch Buying and Selling of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) On Its Platform

    PayPal Holdings Inc, an electronic commerce company that facilitates payments between parties through online transfers, has recently joined the cryptocurrency market on 21st October...

    Ripple CEO: I Own and Bullish on Bitcoin; XRP Needs Favorable Regulatory Framework in US as BTC

    The Chief Executive Officer at Ripple, Brad Garlinghouse, has pointed out that Bitcoin (BTC), the first and largest cryptocurrency by market cap enjoys a...

    David Schwartz: XRP Should Serve As a Universal Settlement Asset for CBDCs

    In a conversation with Pastebin on 19th October 2020, the Ripple CTO, David Schwartz, spoke expressly about Ripple’s effort in improving international payments for...

    More Articles Like This