You have probably heard about the latest scandal in social media, which had Twitter, Bitcoin, and the accounts of several important people and companies as protagonists. In recent days it has been said that it was a hack to the Bitcoin system, although the reality is different. The platform that was hacked is Twitter and not the Bitcoin system.

What happened?

On July 15, several Twitter accounts with more than one million followers were hacked to carry out a massive scam. The scam consisted of asking Twitter users to send bitcoin to a specific wallet address with the promise that the money sent would be doubled and returned.

The scam was a success since just minutes later, more than 300 transactions with an estimated value of more than $100,000 had been made. Some of the accounts that were hacked were those of Joe Biden, Elon Musk, Kanye West, Apple, Uber, Cash App, Coinbase, Coindesk, and Binance.

Why is 2FA important?

Situations like these strengthen the importance of security in the digital world. Tools like 2FA will help make your accounts much more secure and hacking them will be practically impossible. At bitfoliex we are committed to providing the highest security standards and education on this topic is very important to us. Therefore, in the following video, you can understand what 2FA is and how to activate it in your account.

It is also important to be informed about scams and how to identify them to not be a victim of one. Before making a peer-to-peer transaction you must know the person or have a recommendation to make the transaction as safe as possible.

Another important security measure is not to trust promotions or very low prices. Before using any promotion, you must check the official channels of the companies to verify that the promotions are real. This will help you prove that the offers are real and not a scam made by false accounts.

You should take all these security measures to protect your digital assets and avoid being the victim of a hack.