Coinbase Reveals It Stopped Customers From Sending BTC to Hackers

Vandana  |  Jul 21, 2020

Last week, Twitter went through a major attack in which the hackers targeted the accounts of prominent U.S. personalities. This hack was to promote a fake Bitcoin giveaway. In this matter, Coinbase has revealed that it has stopped around 1,100 customers from sending BTC by blocking their accounts. The customers have tried sending Bitcoin to the address which was associated with that hack and they are worth around $278,000.

Coinbase Blocked 30.4 BTC from Transferring 

According to a report released by Coinbase, it has been revealed that the firm has blocked a total of 30.4 BTC from transferring to the hackers address. Philip Martin, Chief Information Officer of the firm has said that the firm has identified the scam when Gemini and Binance have posted compromised tweet. Along with this, it has also been mentioned that around 14 users of the firm have sent BTC to the hackers address before it was blacklisted by the firm. A lot of people have been seeing that blacklisting one address might also give a negative impression about the firm. However, through this blacklisting, the firm is able to save $278,000 funds of its users.

The hack was to promote fake Bitcoin giveaway 

The major purpose of this twitter hack was to promote a fake Bitcoin giveaway and has promised the users to send double the amount. The accounts of high profile figures like Barack Obama, Elon Musk, Joe Biden and many others were attacked in this hack. As per the investigation done by Twitter, it has been revealed that around 45 accounts were compromised in this attack and there are eight accounts whose complete data has been downloaded by the hackers. The accounts from which the data has been downloaded were verified accounts. The investigation by the forensic experts is still going on and Twitter has promised to reveal all the necessary information regarding the hack.

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