Twitter Hacked In Massive Bitcoin Scam. What Does This Mean For Bitcoin?

5:50 am, Fri, 17 July 20

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Bitcoin scam

Earlier today, we saw the official twitter accounts of high profile figures, big named celebrities, high government officials, billionaire businessmen and companies, all with millions of twitter followers get hacked and hijacked to promote a Bitcoin scam.

Elon musk twitter hack

The scammers posted the same message across all the hijacked twitter accounts, promising users who sent Bitcoin to the wallet address listed in the tweets double their payment in return, which is a common cryptocurrency scam.

“I am giving back to the community. All Bitcoin sent to the address below will be sent back doubled! If you send $1,000, I will send back $2,000. Only doing this for 30 minutes,” the tweets read.

Some of the accounts hijacked included twitter accounts belonging to Elon Musk, Jeff Bezos, Barack Obama, Joe Biden, Apple, Michael Bloomberg, Wiz Khalifa, Kim Kardashian, Kanye West, Warren Buffett, CashApp, Uber, and a lot more.

Twitter hack

The hackers also hijacked and took over the twitter accounts of almost all major crypto companies and crypto trading platforms too.

Bitcoin scam

How Much Bitcoin Was Stollen?

Bitcoin wallet address used for the twitter scam

As of 6:54 p.m. EST, the scammers appeared to have received 355 donations just after a few hours of posting, netting 12.86131944 BTC, which totals $118,365.30.

Multiple law enforcement agencies, including one from the Federal Bureau of Investigation, are now actively probing the situation even as twitter officials scramble to get everything under control.

Twitter also temporarily prevented all verified accounts from tweeting in an effort to stem the spread of even more scams.

The firm has also blocked users from being able to tweet Bitcoin wallet addresses for the time being.

Twitter Account of Twitter CEO

What Does This Mean For The Bitcoin Price?

Bitcoin analysis

The Bitcoin price took a massive dive after the news of the twitter scam came out. However, this sell-off found support at the base of the ascending triangle Bitcoin has been trading in for a while now.

But while this Bitcoin scam is bad publicity for the cryptocurrency world, I don’t believe it would really affect the Bitcoin price negatively, instead, I believe it would only make Bitcoin more popular as more news outlets and media companies are talking about the cryptocurrency right now.

Important Levels To Watch For A Likely Sell-Off

If a Bitcoin sell-off does occur, the most important level to keep an eye out for is the base of the ascending triangle the Bitcoin price currently testing.

price prediction

A break of that level could see the Bitcoin price crashing as low as $7,000 or even $6,000 in the coming weeks.

To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my best margin trading bitcoin Guide. You can also check my top list of best exchange to buy bitcoin with credit card to trade with.

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: