{"id":92353,"date":"2018-11-07T09:00:43","date_gmt":"2018-11-07T17:00:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=92353"},"modified":"2019-11-07T02:53:39","modified_gmt":"2019-11-07T02:53:39","slug":"scammers-steal-137000-in-crypto-hacking-posed-as-verified-twitter-accounts","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/scammers-steal-137000-in-crypto-hacking-posed-as-verified-twitter-accounts\/","title":{"rendered":"Scammers Steal \u00a3137,000 in Crypto Hacking, Posed As Verified Twitter Accounts"},"content":{"rendered":"<p class=\"p2\"><span class=\"s1\">Scammers in the UK were able to make off with \u00a3120,000 in <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> after posing as the verified Twitter accounts of two well-known British companies, according to <a href=\"https:\/\/www.telegraph.co.uk\/money\/consumer-affairs\/bitcoin-scammers-steal-120000-hacking-twitter-accounts-matalan\/\"><span class=\"s2\">a report by the Telegraph<\/span><\/a> on Monday. <\/span><\/p>\n<h2>Attack of the Fake Elon<\/h2>\n<p class=\"p2\"><span class=\"s1\">The hackers pirated the verified accounts of clothing store Matalan and film company Path\u00e9 UK, then claimed to be Elon Musk and promoted a phony giveaway via the social media accounts. The two accounts had a total combined following of around 100,000. By Monday night, the fraudsters managed to steal \u00a3137,000 from nearly 400 people donating to the fake contest\u00a0as of Tuesday.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Once hacked, the accounts\u2019 photos and names were changed to match Elon Musk\u2019s official verified account, and the deception was aided by the fact that the accounts kept their blue verification check mark. <\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">The fake Elon account claimed Musk was stepping down from Tesla and giving away 10,000 BTC to commemorate it. Most were able to spot it as a scam, but enough people were duped for the hackers to get away with a sizable amount of money via requests for BTC to \u201cverify their address.\u201d Users were encouraged to donate more BTC with the promise that they\u2019d get much more back than they put in, \u201c+200% back!\u201d according to the scam page.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Wow&#8230; that scam tweet on my feed&#8230; quite sofisticated. It&#39;s not the real <a href=\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\">@elonmusk<\/a> account, it&#39;s a fake, but it got twitter&#39;s verified symbol, and was promoted in twitter to appear in my timeline. <br \/>Careful when paying with bitcoins, because they are untraceable, great for scams <a href=\"https:\/\/t.co\/WS283DKMmQ\">pic.twitter.com\/WS283DKMmQ<\/a><\/p>\n<p>&mdash; Diego Bez. (@Diegobez) <a href=\"https:\/\/twitter.com\/Diegobez\/status\/1059447494302666752?ref_src=twsrc%5Etfw\">November 5, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p2\"><span class=\"s1\">The first account hacked was Path\u00e9 UK, which was restored by yesterday afternoon, according to reports. Then came <a href=\"https:\/\/twitter.com\/Matalan\"><span class=\"s2\">Matalan<\/span><\/a>, who managed to regain their account much more quickly, even joking about the hack once they were back behind the controls, stating on Twitter:<br \/>\n<\/span><\/p>\n<blockquote>\n<p class=\"p2\"><span class=\"s1\">\u201cAnd we\u2019re back! Apologies for the brief interlude. You know you\u2019re important when someone takes the time to hack your account!\u201d<\/span><\/p>\n<\/blockquote>\n<p class=\"p2\"><span class=\"s1\">The tweet has since been taken down.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">A third account, American book publisher Pantheon Books, was allegedly hacked as part of the scam as well. The account has just over 70,000 followers, and as of this writing, all fake tweets have been removed. <\/span><\/p>\n<h2>Responding to the Breach<\/h2>\n<p class=\"p2\"><span class=\"s1\">When asked about the security of their network, and the speed at which they could respond to these kinds of breaches, a spokesman from Twitter told the Telegraph that \u201cimpersonating another individual to deceive users is a clear violation of the Twitter rules,\u201d adding: <\/span><\/p>\n<blockquote>\n<p class=\"p2\"><span class=\"s1\">\u201cTwitter has also substantially improved how we tackle cryptocurrency scams on the platform. In recent weeks, user impressions have fallen by a multiple of 10 in recent weeks as we continue to invest in more proactive tools to detect spammy and malicious activity.\u201d<\/span><\/p>\n<\/blockquote>\n<p>Two-factor authentication (2fa) could be utilized to help prevent scams like this, as the accounts may have been phished, but users of verified accounts don't seem to want to deal with the extra hassle to access their feed.<\/p>\n<p>&#8220;Many verified accounts are used by multiple people, and I suspect some switch off some of the security features for ease of use &#8212; that's where things tend to start going wrong,&#8221;\u00a0Chris Boyd, lead malware intelligence at Malwarebytes, stated in an <a href=\"https:\/\/www.zdnet.com\/article\/why-are-fake-elon-musk-bitcoin-scams-running-rife-on-twitter-right-now\/\">interview<\/a> with tech site ZDnet.<\/p>\n<p class=\"p2\"><span class=\"s1\">Were the scammers able to steal more money as a result of the blue check marks? It likely lent a degree of credibility to something that would\u2019ve immediately been dismissed as a scam otherwise. <\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">However, much of the language and tactics smacked of typical scam behavior, notably the request of money for a dubious reason and the promise of a ridiculously high return. Similar tactics have been used by innumerable fake ICOs and false crypto companies hoping to make an easy buck, and awareness of scams is increasing as knowledge of what to look for becomes more widespread.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scammers in the UK were able to make off with \u00a3120,000 in Bitcoin after posing as the verified Twitter accounts of two well-known British companies, according to a report by the Telegraph on Monday. Attack of the Fake Elon The hackers pirated the verified accounts of clothing store Matalan and film company Path\u00e9 UK, then [&hellip;]<\/p>\n","protected":false},"author":93,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9836],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Scammers Steal \u00a3137,000 in Crypto Hacking, Posed As Verified Twitter Accounts<\/title>\n<meta name=\"description\" content=\"Scammers in the UK were able to make off with \u00a3120,000 in Bitcoin after posing as the verified Twitter accounts of two well-known British companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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