Bitcoin Forum

Recently, i know Binance CEO, Changpend Zhao has recently criticised the security of Twitter after the recent coordinated attack on prominent accounts. He has said this on the World Blockchain Summit Asia which took place on Thursday 16 July. This attack on Twitter has targeted several prominent crypto exchanges including Coinbase, Binance and many others. Along with this, it has attacked some of the most famous personalities of the U.S. Barack Obama, Bill Gates, Elon Musk and many others. The hackers were posting tweets from these accounts and have been offering a fake crypto giveaway.

What's your opinion?

What kind of opinion you want?

Obviously, it's not their fault and it 100% the blame on Twitter itself. And nobody cares if crypto is being used, the market didn't moved an inch, indicating that they know who the real culprit and they can't blame it everything on crypto.

But for those who fall for this trick then it's a big and expensive lesson for them. Although it is really hard to understand what's really going on until it was too late.

Does he realize it is pointless to complain? Binance was hacked too.

"A chain system is only as strong as the weakest link."

I don't remember him being so vocal when people's passport scans were stolen.

At least on the part of twitter, they really did their best to stop this madness that's why the scammers was able to get just over $100k, but just imagine it went for a bit further, he could have make millions in just short amount of time.

Volatility remains low though, it means that crypto world doesn't give a s**t about this incident. Nobody cares really because crypto is just the tool here, the bridge being used by criminals.

Yes, it was all over the news. Many people send their money into those addresses in greed and hacked stole 12 BTC. I wonder why people judge something without questioning it. They should think why Barak Obama will make a giveaway! Even he is not a businessman. I think some greedy people gets what they actually deserve. Next time they won't do this kind of stupidity.

Twitter indeed do their best to investigate on the matter. They even release their own statement about the incident and a report. I think CZ feels dissapointed on behalf of victims of this scam. Also those account that has been compromized are all possibly scared that hackers coult tapped their sensitive information on their own accounts.

What opinion? Obviously this is a twitter security bug, and it has no effect on the cryptocurrency market. And this security bug will cause twitter to have big problems with the privacy of users' information

Hacks can happen at anytime and anwhere so everyone should be prepared for it and once it happens they need to face the consequences as well which is criticism from victims and competitors but here media is saying bitcoin is the scam not talking anything about the hacks that is why CZ talked in that way to make people realise the reality.

In the digital world getting hacked is becoming quite normal these days lol. At least twitter did come forward and shared with us how they were hacked otherwise I have seen some sites which gave no explanation about the hack. Also, IMO they did manage to quickly fix the issue that led to the event.

Even binance was hacked couple of time i guess but yes this time money loss was big.

DId know that the reputation of crypto has already become the worst social media platform since a long time ago? FB has a better security than twitter. So many times the hacked cases happened with twitter account and that's normal to see chengpeng zao has been critizing it.

He can say that because he's also a victim and the backdoor was the fault of twitter so I'm sure that Twitter will take all of the critics' word and admits their fault. I think this will tend to CZ think of reinventing something like Twitter and will make his own move to make that platform better. But if not, it's just about learning a lesson on Twitter's side and they have to strengthen their security and as much as they can, they should also invest to higher bounties for Cyber Security experts.

I would say nobody is above mistake but we have to always be caution towards our products especially the security aspect of it if you have prominent or thousands of people using it. Twitter is being used by many users and prominent people especially uses it most. The hack really put while lots of people in trouble but in life let's know what people can do, no prominent person would ever tell you to pay a certain amount to recieve double. These are terms and tones of scammers. It's quite unfortunate it happened and my sympathy to those affected.

The hack just happened with the help of someone inside the twitter itself so I think they need to improve the administration access controls to the most trusted persons not just to everyone who is working there.And also I didn't found the twitter took all the critics here they remain silent to be honest that is why there is lot of different side discussion going on about these hacks.

Yes, obviously, the Twitter security BUG has nothing to do with Crypto even though all crypto players have a Twitter account and it must be taken care of so that they are not affected by hackers who have appeared in the past few days.

It's very surprising when the Twitter account of binance and world leaders have been hacked, but in my opinion, it has no impact on the cryptocurrency market because it doesn't reduce the cryptocurrency assets in the slightest.

Twitter screwed big time. They must endure the criticism. This is why we need more resilient social media like that don't store everyone's password on a centralized storage.
Think of it, they need to hack the entire twitter users just to get a few BTC, lolz. That's how secure BTC is.

He has the right and the privilege to criticize for the weak security of Twitter, Binance which he managed has a huge stake in the industry being the number one exchange in the market, whenever there is a hacking of exchange or a crash in the market exchanges also suffers. we can say that the hackers wants to promote crypto giveaways because of the personalities they've hacked.

Obviously it has no impact on the cryptocurrency market, even after this twitter attack I believe there will be more people who know this market. Even prices may rise in the near future as more new investors enter the market

This incident is one of the pointer to the fact that no one is above hacking. The just need to increase their security measures and tighten it up more than before.

Is it only Twitter that has experienced this?, Twitter is wrong in handling security but it can always happen in all fields. This does not affect the crypto market completely different from a few years before when bad news about crypto would greatly affect the market but not anymore.

the only thing , twitter must upgrade their security level. how could several popular and VVIP person could hacked with same case about crypto giveaway. and also twitter user must concern about their own security by activating second layer activity like 2fa ,  if this already did  i am sure hacker will stress to hack our account.

The hackers said to use social engineering to hack into people's account, that's something 2fa cant prevent, even if you have the most secure password in the world it will just bypass it. obviously hackers wouldn't give a fuck about your twitter account. Twitter should learned a lesson from this hack.

Yes, Twitter was exploited and didn't stop the attack but now isn't really the time to start pointing fingers here and there. Other prominent people were victims of the attack but we don't hear them complain or try to sue anybody. Binance too, has had its own time with hack attacks where they lost about $30M. The thing is, no platform is 100% hackproof. At best, they could make it a fortress and difficult to penetrate but that doesn't mean its not hackable. I know Twitter would do better. There's been a lot of bad press about them lately

Now twitter has become hackers' favorite place because most of the time these attacks have taken place. As of now, we are aware of many attacks like this but twitter never gets succeeded to stop these attacks before taking place. This time much high profile accounts have hacked and I hope many people had become victims of the attack by sending money towards the provided bitcoin addresses. It's time for Twitter to have more focus on its security.

Twitter is making everyone more frustrated as the company's security issues are showing signs of going down and it is certain that if this security bug is not fixed, more attacks will occur in the future. There have been many people who lost money from this attack and there won't be any compensation so recovering that money is completely impossible. Hopefully, Twitter will be wiser and avoid something like that in the future because it will affect the reputation of the company.

The hack incident won't have any effect on crypto because it's scamming and the currency doesn't matter in my opinion. Twitter is the one that has a lot to do about their level of security. That's a lot to happen in a day. Reputation of the users that were hacked have been tarnished to some of the scam victims.

its really dangerous if even 2fa could not protect our social media account not only on twitter. in future we will see the same case like current accident. we must becarefull accesing our social media account , maybe beside 2fa activating there are another check point to protect our account. it must be twitter team concern.

I know it all too well that no system is actually safe, there's just always a hole that people yet discovered or maybe already discovered but they kept it for themselves but a huge company like Twitter to be hacked like that is really disturbing and considering so many famous people have verified account in that social media platform. It's only make sense if they got criticized so hard for it because they deserve it. They got a platform that self generates the content yet cant keep up with the security.

after  all this  stories and  explanations.

What opinion are you going to ask?i mean there seems to be no answerable about your topic and post?

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About the hacking?my personal opinion is twitter should tighten their security and never let other know about peoples details because privacy is what in threat here.

We all know how vulnerable social networks are, at least many of us here. It's easy to hack them apparently, their centralized servers, with someone from the inside even easier. What I seen on twitter is a call for decentralised social networks, and how much we need them. Maybe this hack will open eyes to many people about how to stay safe on the internet and how much blockchain can help us in that.
One awesome tweet I remember is "hacker asked for BTC not gold". Its a nice tweet for people who understand what this means.

Did someone from Twitter really help the hackers? from what I have read with their official statement, it's just someone who has abused and used the access from those staff that they have. They are taking responsibility for this and it's time for them to upgrade and refresh their security system. It's very much needed to do some upgrade and to assure that this will never happen again.

this is entirely Twitter's fault because it allows hackers to hack more than one person's account, this also has no effect on cryptocurrency, it's only about people who lose money because they believe the tweet

I think that twitter has to provide security for it's users, only twitter and the scammers are to blame... well, and also the scammed for being greedy and not paying attention...
If the scam is made in USD, EUR, BTC or whatever... no one really cares...
and if the authorities wanted to track the money flow, they would do it either in USD as in BTC... mixers will work only up to a certain point

Twitter security was fault for this hack. Many  prominent personal twitter account and few top exchanges hacked due to the twitter security fault. Hackers posted about fake crypto giveway after hacked the accounts which mislead people at first but now everything is okey.

This is the reason why I don't use twitter anymore because some of my friends got scammed on twitter in different scenarios and I don't want to be involved in scams. Twitter isn't the reliable social media outlet if you are looking for a job or something that you can can invest your money to earn more because the twitter users are not fully verified and we don't know if we are talking to a real person or not.

Yeah absolutely true, hackers will always strike at any given time anywhere in the world it just so happened that there was an crypto event during the attack that made it bigger, and having big company and personalitie names are being included will make twitter security will scrutinize heavily.

Recently, hackers have hacked the Twitter accounts of some of the world's most prominent people. The attack on Twitter also targeted several prominent crypto exchanges, including Coinbase and Binyansa; This is a concern for all Twitter users; Especially those who are more concerned with cryptocurrency. Twitter authorities have tried their best to investigate the matter and have issued their own statement. Hopefully the Twitter authorities will look into their security and take steps to address their security vulnerabilities quickly. In addition, various crypto companies need to be vigilant about their security.

Obviously they are now really criticized by the scammers as Twitter API had been compromised and hacked a lot of verified accounts.
I even think what can do next if they can hack again.
So I have a suggestion to all that don't believe something inappropriate if they comes from any verified portals.

The happening is just a buttress of what I earlier posted in this forum here https://rb.gy/idp4wh few weeks ago. The earlier we stop falling for too good to be true offer the better for us all.
We have to curtail our greed for free or near-free funds to the barest minimum otherwise this is bound to happen again.

Any website or appliction can be hacked no matter how big it is. But from what I read, hackers got access to twitter's back end days before they started their scam.
If this is really true, then it's definitely twitter's fault not securing their servers and not monitoring them for any suspicious activities.
Besides apologizing to the owners of hacked accounts, they should refund those who got scammed too. This is the least they can do.

My opinion is that, twitter should strengthen their security because any website can be hacked and crypto might also be used as a payment options by the hackers; so crypto is not really the problem here although its image is being tarnished here but yet the issue lies with the platform in question. It is also comforting that the issue was taken care of within the shortest time possible. Furthermore, as for those that were victims of scams, it is quite unfortunate and also an eye opener for people to be careful of the type of giveaways they participate in.

No one knows why the hackers did this hack. If they did it for money, they would have been able to scam a good amount of funds. And as a result of this hack, there has been a lot of publicity in the media about this news. This news has reached people all over the world about cryptocurrency. Although badly published, it would have taken a long time to publicity the way it was published.  Good publicity or bad publicity, both are a means of getting things done quickly.

Twitter will work to improve the security they need. Because this hack has had a bad effect on people about Twitter. And I don't think this hack will have any bad effect on the crypto community.

Was it really a Twitter fault? Since I read about the hack, "social engineering attack" as they called and from what I read, this is more on a human's fault than a security's fault. Anyway, these attacks really show how vulnerable even with such a big name with millions of followers. We also need to educate people about what kind of common scam around cryptos to avoid.

In fairness to twitter they never expect those hacking attacks to happen, sometimes no matter how you are prepared still shits happen, thats why twitter has no control about it, But it can affect their reputation as a trusted social media company so we better wait what happens next regarding that issue.

Let's just accept the fact that anything on the internet is hackable. Any application or social media sites could be hackable so we should always expect the worst. The best thing is that twitter handled things well. It was unexpected on their part but they still did something to stop it. Hackers are smart but we should always be wiser and smarter than them. It might be hard to regain the user's trust for twitter again but the best thing that they can do is to tighten their security system.

Well it is always easier to blame and judge people, binance was once hacked too so security breach of any platform on the internet is possible. The hack seems to target more of crypto personalities more than others but i must say it's a gppd thing that the hack didn't move the market, it means people are well aware that certain things are just out of control. And for those that fell victim, this will serve as a lesson for them to always do away with greed and invest wisely henceforth

Of course, everything can be hacked if someone really needs it. These two opposite "camps" will always exist - those who defend and those who hack. The most important thing is to react on time, and be able to filter new information.

Yes it does, but during the enhanced security technology? twitter security seemed to be weak if we compare it to others. So why would hackers choose twitter who only has 330 million user than facebook who got a 2.5 billion active user? if they want to scam a large quantity of population to gain a massive amount of money they could have done it with facebook but they did not, coz twitter has a shallow security compared to facebook that is centralized and has a data center, imagine having 30,000 servers that holds the whole data of facebook including your dog photo right now.

what can we expect? we don't depend on twitter in any way. no matter what happens next to them. we just need to keep holding cryptocurrency and invest more money in it

Opinion on what exactly? the question is not really clear. CZ has the right to criticize Twitter based on the security breach, if actually he did. A source to this claim would have been helpful so people get to understand his points. Twitter need to upgrade their security, so does other platforms. 2FA is cool, Twitter needs to embed it. Well the truth is, no system is free from hacks 100%,they just need to up their security game constantly.

The criticm is okay. But he shouldn't forget that no platform is above hacking. There are people whose life goals is to intrude platforms. However  Twiitter really need to check their security system. I mean, how did all these attacks happen to prominent people and platforms at the same time. Scary stuff! Twitter should investigate and fix their security.

That doesn't make sense if twitter has no control over that caused by we know that the hacker was entering the internal software of twitter and twitter must have the best solution for that as it's not about one two or three persons but that's about a lot of people who have been using twitter service.

on my opinion everything where we have internet could be hacked, thats mean every wallet, every exchange and so on! also twitter not so hard to hack!

Wallet would be hard to hack unless its an online wallet. Twitter seem easy for experienced hacker.

It had been happening before and over and over twitter accounts have been hacked. It's only now that its their account that they complain about this.
Its a good time to call out twitter because right now popular people's accounts are used to scam. CZ is probably calling twitter to adopt blockchain to twitter.

Its no question that its their fault and theres no one to be blamed of but Twitter security itself because these things wont happen if theres no such breach of security.

Hackers is always lurking in the dark and when they do find out some exploits or holes then expect for these kind of attacks and of course hackers do know

on what theyre doing and do know that crypto generate millions of dollars and thats a hot target and its no brainer on using up main players for this one.

Sure, this is an alarming situation. One must not rely on a social media platform news. People are falling to such scams because not checking their authenticity before participating. Having said so, due to crypto evolution hackers have got more reasons to hack, but previously also hacking was done for money or spreading fake news or some other reasons.

I think activating 2fa security on social media accounts is a must and it gives a good layer of security in your account. Let's be vigilant and as a user its also are responsibility to make are account secure

These attacks brought the trust to Twitter 100%, but also gave them to understand that their security is weak, and now they will take their protection even more seriously.

Is a must thing or else they would surely lost the trust of their users when these hacking do continue or would still happen on upcoming months or years.
If this hacking incident do happen in social engineering then they should start on making intensive training or seminars into their staffs and other works that they
shouldnt let theirselves  easily fall out into obvious traps.Human error is one of the common reasons why these breaches do happen excluding those technical ones.
If it wont work out on technical stuff then hackers will just do the other way around.

i switched to twitter over facebook because facebook is said to sell out users data's but no major hacking on facebook that happened on the past . twitter is a peaceful place before till the crypto hype begun to burst on twitter . many crypto personalities were involved on twitter more than on facebbok thats why . i dont think thier security is weak but they can always improve it now that heavy hacking are now happening . they can hire more qualified technicians to do the job if thier old employees cant handle much work

Do you think twitter doesn't sell data ? Not just because they are collected, just all the excitement around Facebook, and so everyone is doing it, only Facebook will have better protection than Twitter