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Twitter failed to prevent Cryptocurrency scam which affect several high profile accounts

The ‘master-mind’ behind Twitter hack is an 17 year old Florida teen

Update on this news

Twitter and tweeting has became an integral part of our social media life. Not only considered as a social media platform, twitter is considered also as micro blogging site with many organisations and corporations tweeting about their product updates and new developments, celebrities using the platform to connect with their audience, political tweets and even for virtual protests, Twitter has always backed by a large community but like any other social media it has become prey for attackers and on Wednesday(15 July, 2020) twitter suffered biggest hijacking in the history of the platform which affected many high profile accounts.

The recent hijacking attacks on the platform affected several high profile people’s account including former President Barack Obama, Joe Biden, Elon Musk, Bill Gates, Kanye West, Michael Bloomberg, and Apple. The hijacking is a part of cryptocurrency scam which resulted to a phishing website CryptoForHealth which gave the hijackers almost $120,000 in bitcoin in very less time as the accounts have millions of followers.

A tweet from Mr. Gates is as follows 

“Everyone is asking me to give back, and now is the time, You send $1,000, I send you back $2,000.”

Twitter responded to the attack and locked out the accounts from accessing or changing password which have been affected. Twitter produced timely tweets about  the incident

For almost few hours Twitter tried to calm the issue by saying they are doing some investigation. After that twitter revealed that the attack has been caused to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools. Twitter deleted the malicious tweets, limited the access to internal tools and almost all verified account. The company also said

“We also limited functionality for a much larger group of accounts, like all verified accounts (even those with no evidence of being compromised), while we continue to fully investigate this We have locked accounts that were compromised and will restore access to the original account owner only when we are certain we can do so securely.”

The Twitter follow up of the incident and few other tweets related to the hack