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Coinbase exchange explain how they saved their users from the infamous Twitter hack

 
Coinbase exchange explain how they saved their users from the infamous Twitter hack
Exchanges / Breaking News / Bitcoin / BTCUSD
  • It was well reported that a hack occurred on Twitter which led to  $120,000 worth of bitcoin being stolen in a giveaway scam using many celebrity accounts.
  • Coinbase revealed that it prevented more than 1000 of its users sending a total of 30 bitcoins to these hackers' addresses.

It was well reported over the last week that a hack occurred on the social network of Twitter which led to more than $120,000 worth of bitcoin being stolen in a giveaway scam using many celebrity accounts such as Barack Obama and Elon Musk. Luckily, one of the biggest platforms in the space, Coinbase revealed that it prevented more than 1000 of its users sending a total of 30 bitcoins to these hackers' addresses. That would be worth more than $280,000 of bitcoin lost if Coinbase didn’t intervene. 

The platform said that it took the step to prevent its users from falling for the bitcoin scan which was sold to the public through many prominent figures as previously mentioned. 

This same intervention has been reported for some of the other big exchanges in the space such as Gemini and Kraken. Despite the efforts to prevent as many people losing out on their well-earned bitcoin, 14 customers on Coinbase, unfortunately, succeeded in sending around $3000 worth of bitcoins to the hacker's addresses.

The Twitter hack had a big impact on the world as well as the crypto space in general. Many people were fooled into sending their bits going to the hackers only to realise their mistake moments later.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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