The Bitcoin Twitter scam which managed to compromise several major companies and verified accounts apparently came from a third-party app, according to a new report by the tech outlet The Next Web (TNW). The report is everywhere in the global crypto news in which a Twitter spokesperson has confirmed that the attack came from an outside software provider and not from Twitter’s own system (as it was previously claimed).
The spokesperson also explained that the attackers exploited a third-party marketing solution in order to launch a Bitcoin (BTC) gateway from several verified accounts, such as Google’s G Suite and major US department store retailer Target.
Moreover, the information was implicitly confirmed by Target and the representatives told TNW that the hackers used a third-party marketing app which was authorized to post content on Target’s behalf.
As reported previously in an official crypto press release, the hackers took over G Suite and Target accounts (800,000 and 1.92 million followers on Twitter) and posted malicious gateway links. The messages published by G Suite account users falsely claimed that users could make payments in G Suite using cryptocurrencies.
This is not the first time Bitcoin scammers are taking a hold of famous accounts and doing malicious activities. Previously, they posed as Elon Musk for several times and many other similar scenarios as seen in our Bitcoin Scams section.
The FBI Outlined Key Features Of Fraudulent Offering Schemes: A Warning To Everyone
“Like any investment product, rates of return can never be guaranteed and if it sounds too good to be true, it probably is.”The FBI also warned investors to conduct due diligence on all schemes and the individuals behind it - as well as to always be on the lookout for entities that appear to be exclusively internet-based where a physical address or any contact is hard or impossible to come by. The Bureau also suggested that investors should be aware of which jurisdiction the offering is registered in (if it is at all), as well as to which laws and regulations it falls subject to. FBI advised that the public can use the Financial Industry Regulatory Authority's BrokerCheck system to verify the identities and registration status of entities.
Mumbai Police Arrests Four Suspects In Alleged Crypto Scam Worth $17 Million
“The accused held meetings in Mumbai, Surat, and other parts of Gujarat, and lured people into investing their hard-earned money by promising to double it in two months. Initially, the gang repaid a few investors to lure more people in and then defaulted. Their intention was to cheat.”The report continues on to state that the group launched a fake cryptocurrency named ‘’Cashcoin’’ in 2018 and was later sold to multiple investors promising high returns and a quick doubling of their investment. All of the offenses were registered by the city crime branch at the local police station law enforcement claim breach of trust and criminal conspiracy. The lawyers of the defendants, on the other hand, claim for their clients to be innocent and to be wrongly arrested. In India in the past couple of weeks, multiple arrests were conducted after another group was found and accused of scamming investors for $71.6 million. The analytics company Chainalysis published a report where it says that the value of ETH stolen with scamming reached $36 million last year which is almost double than 2017.
Israeli Crypto Brokerage Coinmama Reports A New Data Breach Affecting 450,000 Of Its Users
“As of February 15, 2019, there has been no evidence of this data being used by perpetrators. Given the dated nature of the published data, we have no reason to suspect that any other Coinmama systems are compromised. Coinmama does not store credit card information.”Aside from notifying users immediately, Coinmama says that its response team is requiring all of the affected users to reset their passwords upon login and monitor any suspicious activity or unauthorized access. The platform says that it is currently working hard to enhance its safeguards and track any external signals. Even though the data breach impacted not only Coinmama big many other companies outside the crypto sector - it still represents the second high-profile system compromise in 2019.
24 Suspects Arrested In Turkey For $2.47 Million Crypto Hack
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