23 Juli, 2020 

Is Twitter Hacking Attack A Crypto Breaker?

These days the news about the global hacking attack on Twitter became the reason for discussions on media. Rumors and speculation interspersed with meager comments of the social platform itself are still one of the hottest topics across Facebook, Reddit, and even TV. Who is behind the attacks? How will this affect the crypto industry? And why should safety always be considered, not only during hacks?
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Is Twitter Hacking Attack A Crypto Breaker?

CEO of the European cryptocurrency exchange BTC-Alpha Vitalii Bodnar shared his thoughts on this matter.

Recent Hacks And Bitcoin's Rates

— Let's start with the fact that the hacks affected not only the crypto industry yet also a large number of celebrities. Therefore, it is important to understand that these hacks are not tied exclusively to the world of crypto trading. Scammers used Twitter accounts for personal purposes, and this is an extremely unpleasant situation. Nevertheless, I believe, it will not bring much harm to the blockchain industry, and in no way will it be able to globally affect the cryptocurrency rate.

The President of US, Social Media, Twitter Hacks — Are They Connected In Any Way?

— Most probably they are not. If it was a move against Donald Trump, his account would also be hacked — it's just a matter of logic. But after analyzing these events, I was really surprised why his account remained untouched. Maybe the hackers were scared and realized what consequences would be ahead speaking about the state and world levels. As for now, we don't know what country (or countries) are those hackers from. I suppose if or when society finds out more about the people behind these attacks, it may become even more like the main topic of the day.

What We Should Know About Exchanges And Remote Attacks

— The exchanges which respect and care for their users, including BTC-Alpha, take a large number of protection measures constantly. This is performed not only to protect data yet to increase the level of users' awareness of security. Each trader should have strong data security as a top priority ahead of making any money.


Such unprecedented hacking attacks cause great damage for both reputation and finances, yet, fortunately, make both users and companies consider more steps towards their safety, as accounts' hacks are always possible (no matter how they are performed). Dozens of crypto exchanges, in particular Binance, have blacklisted all the cryptocurrency wallets that are somehow related to that Twitter hacking attack. This, by the way, is a fairly common practice for crypto exchanges.

I want to emphasize that security is not just a set of steps taken instantly, but a long-way run. Therefore, every crypto trading platform should work on security issues from the very launching day.

Read also: New Opportunities With Social Listing On BTC-Alpha

How A Trader Can Feel Safe In Such An Environment

— Well, those are the same old things: do not use the same and simple passwords, choose a verified crypto exchange, and what's also important you should use all the security features that selected crypto exchange offers to you as a trader.

BTC-Alpha team takes lots of effort to provide every single user with maximum safety levels. Yet many traders, especially the beginners, don't even use 2 Factor Authentication (2FA) and IP Whitelist to additionally protect their accounts, this is not right, it still surprises me badly. That's why I strongly recommend all the crypto traders put their security first.

Don't forget to join our Telegram Community to get more news and updates about BTC-Alpha and to learn how to trade securely. You can also read about people who own the largest crypto exchanging platforms in the world.

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