Peter Schiff on Twitter Hack: “I Wonder If This Is a Harbinger of Bitcoin Itself Being Hacked”

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Thu, 07/16/2020 - 07:48
Alex Dovbnya
After Crypto Twitter got hacked, Peter Schiff believes that Bitcoin itself could be next
Peter Schiff on Twitter Hack: “I Wonder If This Is a Harbinger of Bitcoin Itself Being Hacked”
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In his new tweet, Euro Pacific Capital CEO, Peter Schiff, alleges that Bitcoin itself could be hacked after a string of prominent cryptocurrency accounts have been hijacked to promote a cryptocurrency scam.

“It looks like all verified Twitter accounts have been hacked by someone running a Bitcoin scam. For once not being verified has its advantageous. I wonder if this is a harbinger of Bitcoin itself being hacked?”

The Bitcoin detractor urges his followers to stay on the safe side by investing in his beloved gold.

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How Bitcoin fraudsters hacked Twitter

As reported by U.Today, the official Twitter accounts of Barack Obama, Bill Gates and other prominent personalities were taken over by hackers on July 15 to advertise a Bitcoin scam.

Under the veil of a charitable effort, the fraudsters promised to double the amount of Bitcoin sent to their addresses, which, of course, was a big fat lie.

The scam happened right after multiple cryptocurrency exchanges, including Binance and Coinbase, started announcing their partnership with the “CryptoForHealth” sham that was purportedly giving away 5,000 BTC. The CryptoForHealth website has already been taken down.

Later, it was revealed that bad actors managed to gain access to the Twitter panel by allegedly paying off one of the company’s employees.

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Bitcoiners ridicule Schiff’s fearmongering

According to former Wall Street trader Tone Vays, Schiff’s latest attack on Bitcoin exposes how clueless he is about how the leading cryptocurrency actually works:

“It is a perfect example of how Bitcoin continues to sneak up on people who refuse to understand it.”

The gold bug likens compromising Twitter accounts to hacking the most secure network in the world whose computational power recently reached a new all-time high.

Back in January, Schiff embarrassed himself by losing access to his Bitcoin wallet because he couldn’t tell the difference between the password and the pin.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.