Correction: The messages were sent to the hacker's Bitcoin address, rather than from the hacker. The article has been updated where noted. We apologize for the mistake.
Yesterday, Twitter was breached and the accounts of several high-profile individuals, including Barack Obama and Joe Biden, tweeted a common Bitcoin scam—that asks you for Bitcoin promising to send some in return, which it doesn’t.
[Someone sent several messages to the Bitcoin address owned by the hackers.] They were in the form of personalized Bitcoin addresses.
Put together they read, “You take risk when use (sic) Bitcoin for your Twitter game. Bitcoin is traceable. Why not Monero?”
(Source: Blockchain.com)
The last message is particularly interesting. Why not Monero? Bitcoin may be the most well-known cryptocurrency but it’s very public too. Anyone can see the movement of all Bitcoin and track where the money moves—making it hard for a criminal to escape with the proceeds as it were.
In contrast, Monero is a private cryptocurrency famed for masking wallet and transactional information. It would be much easier to stay hidden.
“Bitcoin is a billion times easier to buy than Monero. It has a name that is instantly recognisable, where most of the people that saw the Tweets would never have heard of Monero,” tweeted Riccardo Spagni, also known as FluffyPony, who was the lead maintainer of Monero.
Bitcoin is a billion times easier to buy than Monero. It has a name that is instantly recognisable, where most of the people that saw the Tweets would never have heard of Monero. Bitcoin addresses are significantly shorter than Monero addresses, leading to more space in Tweets.
Either way, the hack was fairly successful. Victims sent 12 Bitcoin, worth $118,000 to the address, which has since been siphoned away. Although, considering the scale of the hack and the millions of people seeing the tweets, it could have been much worse.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Terraform Labs has opened an online portal for investors to submit compensation claims for financial losses stemming from the May 2022 de-pegging of TerraUSD.
Managed by administrators at New York-based Kroll, the portal will open on Monday, March 31 and close on April 30, giving loss-making investors a month to file claims.
Applicants will have to submit evidence supporting their filings, including wallet addresses in which Terra-based cryptocurrencies were held, as well as transaction logs for...
Why did Joseph Maldonado-Passage, better known as Joe Exotic from the viral Netflix docuseries “Tiger King,” debut a meme coin on Solana from prison earlier this week?
“I’m knee-deep in lawyer bills,” he told Decrypt in an interview, claiming the endeavor will also benefit children through donations to a nonprofit called Operation Smile.
The 62-year-old, who has lived behind bars for seven years, didn’t launch the meme coin himself. Instead, he said his lawyers helped him get “Official Tiger Kin...
Bitcoin swung up and down—as usual—over the last week, and while things were looking up midweek, familiar inflation fears helped sink the price by the time Friday rolled around.
The coin's price was recently at $82,480 per coin, according to CoinGecko, after hitting a nearly three-week high of $88,474 on Monday. As of this writing, Bitcoin is now down by almost 2% on the week.
Bitcoin's dip came after the U.S. Commerce Department reported Friday that the core Personal Consumption Expenditures Pr...