In a Tweet responding to the Twitter hack and widespread Bitcoin scam perpetrated overnight, the company has said that the fault came from its employees. Here are the details according to Twitter in a series of Tweets.
While Twitter mentioned that it was still carrying out an investigation, it had found out that the hackers compromised its employees. The widely used social media platform confirmed, saying:
“We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.
“We know they used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf. We’re looking into what other malicious activity they may have conducted or information they may have accessed and will share more here as we have it.”
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This confirms our speculation earlier that the hackers had likely gained administrative access to launch this Bitcoin scam. It also reveals how dangerous and effective social engineering hacks are. On getting wind of the ongoing scam, nearly one hour later, Twitter had swung into action.
It first completely limited Tweets on the platform. Also, it blocked sensitive functions like resetting passwords and so on. Next, it shadowbanned ‘all verified accounts’ even those that were not hacked. After restoring verified accounts, Twitter blocked all compromised accounts. Thus, users like Barack Obama, Elon Musk, Bill Gates, Joe Biden, Apple and many others could not Tweet for some time.
Internally, it said that it is limited access to internal systems and tools. While it promises to keep releasing more details of its investigation, the hack had really shaken people.
Jack Dorsey, Twitter CEO had acknowledged: “Tough day for us at Twitter. We all feel terrible this happened. We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened. 💙 to our teammates working hard to make this right.”
The scammers made over $100,000+ from the scam. Additionally, with Bitcoin policies, it may be impossible to retract transactions or even cancel them. This may mean that the victims who sent their Bitcoin out may never recover it unless the hackers give access to their wallet.
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