Twitter: $121,000 Lost, 130 Accounts Affected by Bitcoin Hack

Twitter (NYSE: TWTR) released further details of the hack it experienced Wednesday afternoon. The microblogging platform announced that the hackers made off with $121,000 worth of bitcoin as a result of the attack.

The hackers accessed high-profile accounts to post Tweets soliciting donations of $1,000 in bitcoin from followers. The text of the Tweets promised that any donors would receive back double that amount. The hackers included a donation page link that was supposedly live for 30 minutes following the postings.

An origami bird made of U.S. paper currency flies away from a man's cupped hands.

Image source: Getty Images.

Roughly 130 of the tech company's higher-profile users were affected. These include the accounts of former U.S. President Barack Obama, Amazon.com CEO Jeff Bezos, and Tesla CEO Elon Musk. All have many followers around the world.

After the incident, Twitter froze many accounts while it investigated the security breach. The perpetrator -- or perpetrators -- are still unknown. No party has yet claimed responsibility.

Through the Twitter Support feed, the company promised to take "aggressive" measures to secure its operations. It also pledged to provide details on these measures and to release updates on the situation generally.

On Wednesday night, the company described the hack as a "coordinated social engineering attack" perpetrated by bad actors who somehow obtained access to its internal operations.

The FBI said Thursday that it is investigating the case. New York Governor Andrew Cuomo said that the state's Department of Financial Services is also doing so. The hack impacted accounts belonging to cryptocurrency exchanges, which New York State regulates.

On Friday, Twitter stock rose by 1.5%, eclipsing the gains of the wider equities market.

10 stocks we like better than Twitter
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Twitter wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of June 2, 2020

 

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Tesla, and Twitter and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.