..

FBI Hunts for Bitcoin Scammers in Massive Twitter Hack

Written by:
Reuters
Published on:
Jul/16/2020

(Reuters) - The Federal Bureau of Investigation is leading an inquiry into the Twitter hacking, according to sources familiar with the situation, as more Washington lawmakers raised alarms about the breach of high-profile accounts on the social media platform.

Earlier the law enforcement agency had said hackers appeared to commit cryptocurrency fraud after they seized control of the Twitter accounts of celebrities and political figures including Joe Biden, Kim Kardashian, Barack Obama and Elon Musk.

The FBI did not immediately respond to a question about it leading an inquiry into Twitter.

A day after the breach, it was not clear if the hackers were able to see private messages sent by the account holders. U.S. lawmakers worried about future attacks.

“While this scheme appears financially motivated…imagine if these bad actors had a different intent to use powerful voices to spread disinformation to potentially interfere with our elections, disrupt the stock market, or upset our international relations,” U.S. Senator Ed Markey, a Democrat, said in a statement.

Twitter Inc said hackers had targeted employees with access to its internal systems and “used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf.”

Other high-profile accounts that were hacked included rapper Kanye West, Amazon.com Inc founder Jeff Bezos, investor Warren Buffett, Microsoft Corp co-founder Bill Gates, and the corporate accounts for Uber Technologies Inc and Apple Inc.

Twitter’s shares fell a little more than 1% on Thursday afternoon after paring earlier losses. In an extraordinary step, it temporarily prevented many verified accounts from publishing messages as it investigated the breach.

The hijacked accounts tweeted out messages telling users to send bitcoin and their money would be doubled. Publicly available blockchain records show that the apparent scammers received more than $100,000 worth of cryptocurrency.

CEO Jack Dorsey said in a tweet on Wednesday that it was a “tough day” for everyone at Twitter and pledged to share “everything we can when we have a more complete understanding of exactly what happened.”

Business/Financial News

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low

Bitcoin Hits $38,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Bitcoin Hits $40,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Bitcoin smashed through $38,000 to hit a new record high on Thursday as the cryptocurrency’s massive rally continues, then the $39,000 mark just prior to 11 am ET, and by afternoon the price peaked at $40376.

PayPal Backs Crypto Tax Startup Taxbit

PayPal Backs Crypto Tax Startup Taxbit

PayPal Holdings Inc’s venture arm has made an investment in Salt Lake City, Utah-based tech startup Taxbit, which helps consumers and businesses calculate the taxes owed on cryptocurrency holdings, the companies said on Thursday.

Bitcoin Crosses $30K Mark First Time Ever

Bitcoin Crosses $30K Mark First Time Ever

Digital currency Bitcoin extended its record smashing rally on Saturday, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method.

Bitcoin Climbs Over $29K

Bitcoin Climbs Over $29K

Bitcoin, the digital currency preferred by online gambling sites in restrictive markets, has shot to 29,230.10 Wednesday evening.

Syndicate