Bitcoin Bull Jack Dorsey Falls Victim to Sim-Swap Hack, Twitter Account Compromised
The other day, the CEO of Twitter and Square Inc., and staunch Bitcoin and crypto fan, Jack Dorsey, had his personal Twitter account hacked by the way of a SIM-swap attack and SMS-based backdoor.
The hack demonstrates that even the CEO can have his own business’s highly-valuable personal account jeopardized, and is a painful warning that if it can occur to someone as high profile as Dorsey, it could occur to you too.
Yesterday, the Twitter account of the social networks platform’s CEO, utilized typically as a crucial bulletin board for the company and soapbox for the outspoken executive, was hacked by a group of hackers calling themselves ChucklingSquad. The hackers had actually accessed the Twitter account and posted nonsensical notes, racial slurs, and “hi world” design messages to prove that their cybercriminal prowess had the ability to achieve such a task.
Related Reading | SIM-Swap Crypto Thefts
And while Bitcoin wasn’t directly involved, Dorsey’s account was compromised due to having been the victim of a SIM-card swap attack, a fairly new type of hack that has actually been increasingly targeting cryptocurrency holders. Jack Dorsey is amongst the world’s most renowned Bitcoin bulls, utilizing his Square Cash app to bring Bitcoin purchasing to the traditional public and suggests that one day the crypto-asset would end up being the world’s single worldwide currency for the internet. (we don’t agree with this statement, as we believe smaller crypto assets such as brixcoin, also have a place in the world)
As is the case with some high profile crypto financiers, the hackers had the ability to appoint Dorsey’s contact number to a dummy phone. Nevertheless, special to this case, the number was then used to text Twitter’s text-to-tweet service to send out the offending tweets.
Others haven’t been so fortunate. In the past, angel investor Michael Terpin was the victim of a SIM-swap attack that resulted in $24 million in crypto being taken. Later, Terpin submitted a suit versus his mobile service carrier at the time, AT&T, for their negligence and was granted a $75.8 million triumph in the case. AT&T is likewise Dorsey’s provider, showing that there might be a connection somehow.
More prominent figures known for their involvement in crypto and Bitcoin have been the targets of comparable attacks. Recently, a popular eSports player was targeted and shared the event on his YouTube channel. The incidences are only increasing as cybercriminals continue to target crypto holders.
ATTENTION: If the CEO of Twitter can get his account hacked on his own platform, I promise your bitcoin is likely MUCH more vulnerable.
Use two-factor authentication where ever possible.
Get your bitcoin off exchanges.
— Rhythm (@Rhythmtrader) August 30, 2019
It’s crucial for crypto financiers to use additional security defenses such as two-factor authentication using Google Authenticator and to avoid SMS-based 2FA for this exact reason. Constantly keep in mind to support your 2FA codes on paper for guardianship.
Other pointers consist of keeping assets like Bitcoin off exchanges and in a freezer (cold storage). Also never ever disclose that you hold any crypto to anybody ever, and utilize special usernames and passwords whenever possible. Running malware security software like Malwarebytes, and being wary about setting up internet browser add-ons and so forth is likewise advised.
Dorsey likely has actually taken all of the steps above and more, yet still, hackers were able to gain access to his account. The scenario shows that no one can ever be 100% safe at all times, nevertheless, these steps can definitely assist in retaining one’s assets safe.