Bitcoin has NOTHING to Do with Twitter Hack—Elucidated!

The social media, news channels, and even the novices are all talking about the massive twitter hack that happened in the name of Bitcoin Giveaway that was nothing but a pure scam. The details are such that all the high profile verified twitter accounts hacked in massive Bitcoin scams. Hackers have accessed Twitter’s internal system to fake a tweet about Bitcoin giveaway by way of crypto help as a part of donation in lieu of COVID’19.

The platforms of top voices of the US include the major presidential candidates and renowned big shots like Joe Biden, Barack Obama, Jeff Bezos, Elon Musk, Kanye West, Wiz Khalifa, Charlee Lee, Justin Sun including Binance, Coindesk, Apple, Uber.

An example of Joe Biden being the victim of Bitcoin Scam Giveaway in the latest massive twitter hack and is one of the high profile preys

This has led to major search volume of Bitcoin and the recent hack on Google as per the Google trends, and therefore, Bitcoin is encircled by news once again after 2017 Bull Run for a massive crunch like this. To many like CEO of Schiffgold, Peter Schiff, this Twitter Hack appears as a Bitcoin hack, and he takes a chance to promote Gold by tweeting on this recent hack.

It is important to understand that the twitter hack has nothing to do with Bitcoin and its security system. The hacker has ruptured the nodes and internal system of twitter in the name of Bitcoin giveaway scam. For people understanding it to be Bitcoin scam like Peter are adjoining the laterals of Bitcoin and crypto being big-time scammers of the digital world. Reiterating, the prey to this twitter hack were the people who only believe in the greed of earning money through BTC.

Well, there is no such thing as “free lunch,” and while the hack was of the presidential people from the US, people couldn’t refrain from believing it to be true. Bitcoin and cryptocurrencies are always regarded as ways to become rich in the earliest possible ways, and therefore, falling prey to such scams is not altogether a new thing.

The only shock and skeptical that encircles around twitter and its security are: “How secure are these verified big shots and market veterans on a massive platform like Twitter to share their thoughts about finance, technology, markets, digital assets, etc.

However, the hack is one thing while people misinterpreting it for Bitcoin hack is another. But the recent hack has extended an opportunity to dive deeper into Bitcoin, cryptocurrencies, blockchain, and decentralization. And, maybe it is high time, that Twitter and its support realize the need of the hour and lead towards having decentralized blockchain support.

Instead, Bitcoin is here to solve the glitch in the matrix, which otherwise is caused by money and providing financial freedom. However, if the hackers believed towards experiencing an abrupt change in the price dynamics of Bitcoin gained nothing but stability around $9.2k, the power is peerless, which only led to massive marketing of Bitcoin that otherwise was trading laterally.

Will this twitter hack act as a strong catalyst to let the Bitcoin Bull Run happen? The solid answer is NO because this brings us to the ultimate conclusion of twitter nodes and software being comparatively less secure than Bitcoin.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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