Compromised Twitter handles used for a get-rich-quick Bitcoin scheme

The Twitter account hijacking incident of 2020 is another prime example of how hackers exploited the zeitgeist for personal gain. Criminals compromised the login credentials for some of the most influential Twitter handles in the country, including former president Barack Obama and Tesla CEO Elon Musk. Hackers issued fake tweets from these accounts saying things like I am giving back to my community due to COVID-19! and asking followers to send Bitcoin to an anonymous URL in exchange for having their money doubled.

For example, by sending $1,000 in Bitcoin, you would supposedly get $2,000 back. Scammers received over 400 payments of Bitcoin and made $121,000, according to Elliptic, according to Elliptic, a cryptocurrency compliance firm. The largest transaction received by the scammers was one payment of $42,000. Shortly after the wallet started receiving funds, it started transferring them to a different address so the hackers could exchange the cryptocurrency for cash.

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