The motivations and implications of a Twitter hack that had everyone from Coinbase to Kanye shilling a scam for bitcoin.
Today on the Brief:
- Adjustment to bank profits in anticipation of growing debt delinquency
- The lowest decrease in jobless claims since March
- A boost in retail spending
The Great Twitter Hack
Expert commentary provided by Dr. Tom Robinson, chief scientist and co-founder of Elliptic
Wednesday, at around 2:15 p.m. EDT, prominent Crypto Twitter accounts started sharing a similar message about a bitcoin giveaway. A couple of hours later, Elon Musk and Bill Gates were saying they were feeling generous and wanting to give bitcoin away. A couple more hours and every verified blue check mark account on Twitter was taken down. It's the great Twitter hack of 2020.
It was an attack with massive implications, if not much monetary gain.
On this episode NLW breaks down:
- What happened
- Which accounts were impacted
- How much BTC was transferred
- The narrative battle of “bitcoin scam” vs. “Twitter hack”
- Why it might have been a state-sponsored attack
- Why the real intention might have been to discredit Twitter
- Why the (supposed) revelations about Twitter’s administrative tools could end up in a congressional inquiry
Find our guest online:
Elliptic website: Elliptic.co
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.