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Elon Musk Targeted With Crypto Spams Via Hacked Verified Accounts

Elon Musk's Twitter post was spammed by several hacked verified accounts with links to crypto scams.

Elon Musk Targeted With Crypto Spams Via Hacked Verified Accounts
  • PublishedSeptember 12, 2022

Elon Musk’s Twitter account is often the center of attention regardless of his unique tweets, especially on cryptocurrencies that tend to impact crypto coins. However, the billionaire’s account recently suffered a spam attack initiated by cryptocurrency fraud accounts. While Tesla’s recent Full Self-driving (FSD) Beta version was being rolled out, hackers attacked Musk’s Twitter account using bots.

Twitter hackers target Elon Musk

“FSD Beta 10.69.2 rolling out now. Please note that top priority is safety, so expect it to be overly cautious, especially around pedestrians,” tweeted Musk following which his account was bombarded with spam links. A Twitter user posted screenshots highlighting the same.

Musk’s Twitter account has been compromised multiple times, and several deep fake videos of the billionaire have been circulated on various social media channels with an intent to commit fraud. The billionaire, who had previously proposed to buy Twitter shares, backed out from the deal due to the platform being flooded with bots, and various other reasons given below.

According to sources, Twitter’s alleged decision to pay $7.75 million to a whistleblower to hide its loosely built security systems was another reason for Musk to back out of the $44 billion agreement to purchase the company. Reports suggested that the whistleblower revealed that hackers were exploiting Twitter’s security systems.

Twitter hackers continue to grow

Several companies and marketing firms pay hackers to run advertisements on social media platforms. While Instagram and Facebook seem to be perfect places for scammers to run their operations, a platform like Twitter is also getting wrapped in bots-based campaigns.

These companies are willing to pay huge amounts of money to get their product across to the users. These campaigns are designed for users based on their interests using data collected over time. Once the target user has been identified, the rest of the campaign process runs on the idea of constantly displaying advertisements to the users.

According to the former FBI special agent and current Global Head of Intelligence at F5, Dan Woods, over 80% of Twitter accounts are made for advertisement, especially for small firms that haven’t reached the optimum marketplaces.

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The Cyber Express is a publication that aims to provide the latest news and analysis about the information security industry. The news comes from a variety of sources and is updated regularly so that readers can stay up to date with the latest happenings in this rapidly growing field.

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