Yesterday, a pretty major happened at Twitter. It was a Bitcoin hack, designed to get millions of dollars from people following popular influencers. Some of these names included Elon Musk, former President Obama, Apple, Bill Gates and many more. Twitter ended up shutting down the tweeting functionality for all verified accounts for a bit yesterday. Now, while Twitter is investigating this hack, so is the FBI.
This is coming from a report from Reuters, stating that the FBI is leading a federal inquiry into the Twitter hacking.
The FBI has not yet confirmed that they investigating the hack, but did state earlier today that “We are aware of today’s security incident involving several Twitter accounts belonging to high profile individuals. The accounts appear to have been compromised in order to perpetuate cryptocurrency fraud.”
The hack was a criminal one
It's not often that we see the FBI or even the Justice Department get into investigating hacks that happen at different companies. Usually the company deals with it, they might get a fine later on and that's it.
But for Twitter, things are much worse. Though it's not necessarily all Twitter's fault.
What happened yesterday, was basically a cyber attack on some very popular accounts. Which told everyone that if they sent them Bitcoin (and there was an address provided), they would send back double the same amount. Of course, to the trained eye, that smells very suspiciously. But those that aren't big tech nerds and might be techilliterate, that sounds like a good way to make some more cash during this hard time.
And that of course, is a crime. Hence why the FBI is now investigating it.
After this news, Twitter shares started to trade lower, around 1.3%, expected.
Twitter is still investigating the hack
Twitter itself is also still investigating this hack. As it is a pretty big deal. The fact that the hackers were able to get into so many verified accounts, so quickly is pretty worrisome.
Not to mention the fact that the hackers also likely had full access to these accounts. That includes Direct Messages. And for some accounts, that could be a very big deal. Not to mention a major invasion of privacy.
this is one of the biggest hacks of recent memory, and the investigation by both Twitter and the FBI is bound to take a bit of time. So it'll likely be a little while before we really find out what happened, and how Twitter is going to work to keep it from happening again.