Twitter Bitcoin Hack Could Be Covering 'Other Malicious Activity' Experts Warn

Twitter Bitcoin Hack Could Be Covering 'Other Malicious Activity' Experts Warn

And while Twitter users expressed disbelief that people fell for the scam, they couldn't help but note that the site's security really didn't do its best job when protecting users and their data. "As this investigation is ongoing, we will not be making further comment at this time".

We asked Twitter several questions about direct messages, including whether the company has any evidence that the hackers gained access to users' DMs; what protections it puts in place to prevent unauthorized access - including from Twitter employees; and if there are any plans to implement DM end-to-end encryption.

U.S. legislators anxious about future attacks.

"Now, suppose the fake message concerned the stock market or politics", he said.

Echoing a similar sentiment, Representative Jim Jordan, the top Republican on the House Judiciary Committee, asked what would happen if Twitter allowed a similar incident to occur on November 2, a day before the United States presidential election.

Karim Hijazi, CEO of Prevailion, a cybersecurity firm that monitors hacks, told Yahoo Finance that the takeover has serious implications that should concern many in the cyber and intelligence communities. Verified accounts on Twitter have the blue tick on their profiles.

Twitter said it removed the tweets and temporarily blocked some verified high-profile accounts from posting altogether while it investigated the incident.

Some verified account users took painstaking steps to continue eking out their thoughts - they could still retweet old tweets that summed up their feelings or laboriously construct messages out of single words and letters.

The attack began in the afternoon on July 15 when prominent cryptocurrency accounts posted similar messages calling on people to deposit bitcoin into an account with a promise that the senders would receive twice their money back.

According to publicly available blockchain records on Thursday morning, the Bitcoin address received over 110,000 dollars (£88,000) from hundreds of transactions.

Shares of Twitter added to losses on the news and traded down 1.3 percent. "We're diagnosing and will share everything we can when we have a more complete understanding of exactly what happened", Jack Dorsey tweeted. Major brands have pulled ads from social media, including Twitter and Facebook, in recent months, citing the polarized political environment.

"We used a rep that literally done all the work for us", one of the perpetrators said, referring to a Twitter employee.

Many commented on the security issues this highlighted but others saw the amusing side of how once instance of hacking had silenced some of the world's most powerful voices.

Motherboard's sources said that a Twitter insider (admin) was bribed or coerced to use an internal user management tool to reset the email address and password on the affected accounts.

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