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Weekly News Roundup: Twitter Suffers From Hack And Widespread Bitcoin Scam

Weekly News Roundup: Twitter Suffers From Hack And Widespread Bitcoin Scam
In  Bitcoin Africa’s Weekly News Roundup , we look at the most trending blockchain and cryptocurrency stories from Africa this week.
Here are our top picks!
Hack Hits Twitter, Hackers Walk Away With $120,000 in Bitcoin
On Thursday, Twitter witnessed the biggest hack in the app’s history. A group of hackers is suspected to have been behind the social engineering attack on the platform.
At the center of the hack was a bitcoin multiplier scam asking people to send money to different addresses to receive two times of what they sent. The scam tweet initially showed up on account of cryptocurrency exchanges like Binance, Gemini, Coinbase, Cash App, Kucoin, and Bitfinex.
It quickly extended to the accounts of crypto personalities like CZ Binance, Charlie Lee, and Justin Sun. Twitter Support promptly sent out a tweet that mentioned that it was investigating the breach, only to end up compromised. The final part of the hack targeted major American accounts like Obama, Joe Biden, Kanye West, and Kim Kardashian.
Twitter eventually had to ban all tweets containing a bitcoin address and freeze verified accounts to manage the situation.
The elaborate scam managed to collect $120,000, which has been on  the move . Most exchanges have blocked transactions from or too the scam addresses.
At the time of writing, affected accounts have been restored, and Twitter is still investigating the hack.
Terrabit Nears August HardFork
Terrabit has made new announcements concerning the hard fork scheduled to take place on August 1st. The major update will bring masternodes, DAO style governance, desktop mining, and a coin swap.
The coin swap will happen across the span of a fixed date. Each user will receive 1 CREDIT coin on the new blockchain for every 1000 coins from the old blockchain. Users who are unable to swap their coins during the stipulated time frame may lose their coins. What’s more, masternodes will be introduced with a collateral of 50k CREDIT coins.
The huge reduction in circulating supply and locking of coins for masternodes is expected to increase demand according to the  team’s updates .
On the crypto markets, bitcoin continues to trade between $9,300 to $,9,000 while altcoins like ChainLink and Tezos registered significant gains.
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