Twitter Attack Doesn't Target Bitcoin

Twitter Attack Doesn’t Target Bitcoin

  • Hacking Twitter will not affect the crypto market in any way

  • Donald Trump has nothing to do with the social media hack

  • Exchanges are taking enough measures to prevent hacking

Twitter Attack Doesn't Target Bitcoin

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Hacking Twitter accounts of public figures is an open large-scale provocation by hackers. Some experts claim that in this way an action could be organized against Donald Trump, who openly opposed the social network. Others say the scammers were simply trying to cash in on user trust. How the hacking of the social network will affect the crypto market, BeInCrypto asked the CEO of BTC-Alpha Vitaly Bodnar.

– How hacking Twitter accounts will affect the price and behavior of bitcoin?

VB: Let’s start with the fact that the hack affected not only the cryptoindustry, but also a large number of popular people. Therefore, it is important to understand that this hack is not exclusively tied to the world of crypto trading. Fraudsters used hacking for personal purposes, and this is an extremely unpleasant situation, but it will not bring much harm to the industry, and in no way can globally affect the rate of the cryptocurrency as a whole..

Twitter Attack Doesn't Target Bitcoin

– Are you linking the hacking of Twitter accounts to Trump’s claims of tight regulation of social media?

VB: Most likely no. If this was a move against Trump, his account would also be hacked – and this is logical. But after analyzing these events, I was really surprised why his account remained intact. Maybe they [hackers] got scared and realized what consequences await them at the state and global levels. 

– What actions can exchanges take to improve protection against remote attacks?

VB: Exchanges that are reliable and respectful of their users, including BTC-Alpha, take a large number of protection measures all the time. Moreover, this also happens in those moments when such attacks are not heard. This is done not only to protect data, but also to improve the education of users. Each trader should prioritize safety, and then earnings.

Twitter Attack Doesn't Target Bitcoin

Such high-profile attacks, unfortunately, cause great reputational and financial harm, but, fortunately, they force both users and companies to think about their safety. After all, hacking of accounts is always possible – in one way or another. Many exchanges, in particular Binance, have blacklisted all wallets that are somehow related to hacking Twitter accounts. This, by the way, is a fairly common practice of crypto exchanges..

I want to emphasize that security is not a step that is taken instantly, but a long way. Therefore, every marketplace must work on security from the first day of launch..

– Thank you for the interview!


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