Just a month ago I said that Twitter (TWTR) stock is a waste of time.
If you are investing so you can earn more money and your money is trapped in Twitter stocks…you are an idiot for not getting rid of those shares.Source:me
And now that we are witnessing this gigantic security breach caused by, so far, unknown hackers (probably an insider job) you are wondering if Twitter is going to survive or not.
Let me be clear. I said that Twitter stocks are a waste of time, but 90% of population will continue to use social media, big companies included, even though these sites proved to be nothing more than a huge security loophole.
Such a security loophole that anyone can be hacked in a matter of minutes. Because, I am sure, hackers have access to any account now.
But is this all happening so hackers can earn 12 BTC, because this is how much one of the BTC accounts received in 2 days? No, this scam is running for months already. Deadline called this storm a Phase 1, but we are actually in Phase 2 of this scam. You probably saw these totally legit accounts with blue check mark tweeting random BTC related in Trump feed? No?
How the scam works?
This is how the scam worked before some of the most high-profile people in the world are hacked . First hackers get a hold of a Twitter account from a person with a blue check mark. This is usually someone who is known is certain circles but not known among wider population. But he deserved his blue sign from Twitter. Then this (hacked) account started tweeting right after someone truly known (Such as Trump or Musk) posts a tweet.
They respond to Trump or Musk tweet saying how they will donate double the amount if you pay certain amount to their BTC account. In order to keep their reply up at the top, so everyone can see it, they wait for these big names to tweet so they respond first and they upvote (like) their comment using other accounts.
People see blue check mark and they trust the source so someone ends up paying certain amount to hackers BTC account.
But seems like this was not enough for scammers so they unleashed the Phase 2 of the scam. Taking over accounts operated by …well, everyone who is anyone in the U.S.
What is next?
According to Zero Hedge extortion could be the Phase 3 of the Twitter scandal.
That was fun. Now comes the real fun: extortion of billionaires and presidents for billions in bitcoin in exchange for not leaking their direct messages to the publicZH
Because why not? If you have access to direct messages sent by celebrities and politicians and you happen to be one of the most brazen hackers this, logically, will be your next step.
And this could very well be the end of Twitter. Instead of policing who said what Twitter should have policed their engineers instead.