The world of Digital Wallet and its transparency attracts a lot of amateur investors. However, there are always certain risks and hazards in any form of online networking. The private key setting of the Bitcoin wallet is very secure and works like a safety deposit box. There are no ways by which others can access the private key of the user. There is a feature of Two-factor authentication to secure your account and storage service from the sudden visits of hackers. Many third-party platforms help the users in easy handling of Bitcoins. These third-party platforms retain the hassles of remembering the public and the private key and offer a simple online banking procedure for the users. However, compromise on their grounds mostly led to thefts and scams.
In the recent tweet, Nischal warned the public about the hacking activities on twitter while advising them to stay safe and don’t fall for the scams. The tweet indicates that exposure of Bitcoin to these thefts and frauds are recently growing, and amateurs who are not yet aware of the complete process become easy targets. Users are questioning Twitter’s platform regarding the breach of user’s account security, two-factor authentication program, third-party compromise, etc. Accounts of Apple, Uber, and many famous personalities are also hacked under these fraudulent practices. The users also demand to be informed about Twitter’s steps to curb these hacking and scams. Some of the affected accounts have experienced fraudulent posts. Twitter should coordinate with the Department of Justice and the Federal Bureau of Investigation against those who are a threat to user’s data and privacy.
In another tweet on July 15, 2020, Josh Hawley explained that Twitter seems to be experiencing cyberattacks by several posts that are inviting people to transfer Bitcoins. This post was highlighted to inform users how much information they’ve lost this far.
Some of the users opt for the two-factor log-in process, which includes an SMS text, and these can be easily intercepted. Moreover, choosing app-based verification options like Google Authenticator is a way safer option. Users should store their private key manually, as the presence of private keys on smart devices opens its route to the hackers. In the end, the proper security and preservation of personal data are crucial to ensure continued communication around the globe.