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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Twitter Implements Scam Safeguards, but Google’s Account Still Gets Hacked

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read
Twitter

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Twitter has been on the losing side of an ongoing battle with scammers who are leveraging the platform’s user base to steal cryptocurrencies. However, the company has revealed that it’s implemented some safeguards in an attempt to reduce the frequency of such scams and better protect its users.

Twitter Issues Statement, Implements Scam Countermeasures

Twitter, the popular social media platform originally known for limiting discussion to 140 characters, has been fighting a growing trend where cybercriminals hijack accounts – often verified accounts – of major brands, big-name celebrities, and cryptocurrency industry executives and entrepreneurs.

The likenesses are imitated, and then used to lure users into sending a small sum of cryptocurrency to a scammer’s wallet, with the promise of a larger sum being sent in return. Except the sending user is left high and dry after they realize they are not only getting the promised larger sum, but that they’ve lost the initially sent assets as a result of the scam.

Related Reading: Crypto Scammers Steal $150K Posing As Elon Musk

Yesterday, one of the U.S.’s largest retail chains, Target, had their verified account of 1.92 million followers hacked.

A posted tweet on it stated that it was doing a cryptocurrency giveaway that led to over $38,000 in Bitcoin being stolen from Target’s customers. Target issued a statement apologizing to its customers and explaining the situation. However, the retail giant cannot be too pleased with the way Twitter has allowed this problem to run rampant on its platform, and continue to escalate.

Following the incident, Twitter issued a statement.

“We’ve been in close contact with Target this morning and can also confirm that their account was inappropriately accessed for approximately half an hour, after which we swiftly locked the account so Twitter could thoroughly investigate the issue,” the company told Hard Fork.

Twitter also claimed it had discovered additional security breaches, and has since implemented some countermeasures aimed at thwarting future attempts from cryptocurrency scammers.

Google’s Account Hacked Following New Countermeasures

Not even hours later after Twitter’s statement, the G Suite verified account owned by Google was also breached, and used for wrongdoing. The G Suite account has over 800,000 followers, meaning that well over 2.5 million users were exposed to scammers in less than 24 hours due to the social media giant’s inability to stop the spread of the ongoing issue.

Google removed the tweet, and said they were “investigating with Twitter now.”

The company appears to be defenseless in the fight against these cybercriminals, which are said to reach as many as 15,000 bots as part of a growing botnet designed to scam Twitter users out of their crypto.

Jack Dorsey, Twitter’s CEO, claimed the firm was “on it,” and began exploring using “untapped potential” blockchain offers as a way to improve transparency and accountability on the social media platform.

Featured image from Shutterstock.
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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