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Twitter Confirms Third-Party Involvement in Crypto Hackings

The scam is made to seem more trustworthy as various other compromised accounts reply to the tweet claiming that it works

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Twitter
Twitter confirms third-party involvement in crypto hackings. Pixabay

Micro-blogging site Twitter has confirmed that a third party software provider is responsible for the series of cryptocurrency-related hackings on its platform.

A Twitter spokesperson said attackers exploited a third-party marketing solution to blast fake Bitcoin giveaway links from a slew of verified accounts, The Next Web reported on Friday.

The confirmation comes days after a number of high-profile public figures and brands including Elon Musk and Google got their accounts breached to propagate malicious cryptocurrency giveaway links.

To make the accounts appear legitimate, the scammers used accounts with Twitter’s own verification mark.

Twitter, India
Twitter on a smartphone device. Pixabay

In such cases, clicking on any of the links in the scam guided users to a page where they were urged to send anywhere from 0.1-one Bitcoin to the scammers — with the promise that they would receive one-10 Bitcoin as a reward, the media had reported.

But the victims never received any Bitcoin after sending money to the scammers.

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The scam is made to seem more trustworthy as various other compromised accounts reply to the tweet claiming that it works.

“The confirmation the hackings originated from a third-party app explains how the attackers managed to run the Bitcoin giveaway scam at such a large scale and in such an organised manner,” the report added. (IANS)

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Wikipedia Co-founder Launching Social Media Website “WT: Social”

Wikipedia co-founder Jimmy Wales is launching a social-media website named "WT: Social" which will compete Facebook and Twitter

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Wikipedia co-founder Jimmy Wales
Wikipedia co-founder Jimmy Wales is launching a social media website names "WT: Social". Pixabay

Intended to get right what Facebook and Twitter have so far been getting wrong, Wikipedia co-founder Jimmy Wales is launching a social-media website named “WT: Social” which will compete with both the social media platforms.

Instead of going for an ad-funded model, Wales aims to finance it through donations, just like Wikipedia.

Like those platforms, WT:Social will let users share articles. But WT:Social will be funded by donations, rather than advertising.

Wikipedia, Social Media
Like other social media platforms,Wikipedia’s WT:Social will let users share articles. Pixabay

“The business model of social media companies, of pure advertising, is problematic. It turns out the huge winner is low-quality content,” Wales was quoted as saying by Financial Times, according to an Engadget report.

It started as Wikitribune — a site that published original news stories with the community fact-checking and sub-editing articles. The venture never gained much traction, so Wales is moving it to the new platform with a more social networking focus.

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WT:Social will be free to join, but at the moment, you either have to sign up for a waitlist, donate or invite friends. Just a month old, it already has 50,000 users, the Engadget report added. (IANS)