A leading cryptocurrency exchange has voiced its concerns after hackers took over its Twitter account along with more than 100 others belonging to some of the worlds most influential people and companies.
KuCoin, which since being founded in 2017 has grown to become one of the worlds most popular crypto exchange services with five million users, lost control of its official Twitter account during the cyberattack this week.
For a company that depends on providing high levels of security to its users, the breach at Twitter was of particular concern.
A spokesman for the company, Jing Cheung, told The National: We are actually quite shocked at whats happening at Twitter.
As a crypto exchange, security is our top priority, he said.
We have implemented plenty of security mechanisms to protect account security. Thats why its hard to imagine such a hack could happen to Twitter.
The cyberattack is the biggest to have hit Twitter in its history.
Hackers are believed to have accessed Twitters internal systems to compromise the accounts of some of the platform's top voices, including US presidential candidate Joe Biden, reality TV star Kim Kardashian, former US president Barack Obama and billionaire entrepreneur Elon Musk, and use them to solicit digital currency.
The high-profile accounts that were hacked also included rapper Kanye West, Amazon founder Jeff Bezos, investor Warren Buffett, Microsoft co-founder Bill Gates and the corporate accounts for Uber and Apple.
In its latest statement, Twitter said the hackers were able to gain control to a "small subset" of the targeted accounts and send tweets from them.
The FBI is leading an inquiry into the incident, with several US politicians also calling for an explanation of how it happened.
The investigative agency said that cyber attackers committed cryptocurrency fraud in the incident.
Freely available blockchain records show the apparent scammers received more than $100,000 (Dh367,000) worth of cryptocurrency.
KuCoin said it was working closely with Twitter to investigate the hacking which, it added, was handling the matter carefully and transparently.
The company said it was looking into using a new, decentralised social media channel using the same blockchain technology that protects cryptocurrency transactions to provide greater security.
Updated: July 17, 2020 08:54 PM
Link:
Cryptocurrency firm KuCoin 'shocked' by Twitter hacking - The National
- Bitcoin Center NYC To Support Wednesday's CryptoCurrency Convention By Hosting After-Party [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- As Bitcoin Soars in Value, Alternative Cryptocurrencies ... [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- CryptoCurrency.org [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Cryptocurrency - Wikipedia, the free encyclopedia [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Qoinpro Cryptocurrency Faucet - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Global Issues Cryptocurrency Project - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- cryptocurrency - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- PotCoin @ Cryptocurrency convention NYC, Good Audio - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Bryce Weiner @ CryptoCurrency Convention 2014 - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Unobtanium Cryptocurrency Explained - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- How To Create Your Own Cryptocurrency Co.Labs code ... [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- CryptoCoinsNews - Cryptocurrency and Bitcoin News with ... [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Joe Rogan and Reddit Co-founder Alexis Ohanian talk Dogecoin, Cryptocurrency - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- How To Assess A CryptoCurrency: AltCoin Assessment Protocol. What's the next big AltCoin? - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Reggie Middleton's UltraCoin @ NYC CryptoCurrency Convention - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- The future is Nxt (cryptocurrency platform) - Video [Last Updated On: April 19th, 2014] [Originally Added On: April 19th, 2014]
- CryptoCurrency Convention 4/9/14 - Dan Larimer Bitshares - Video [Last Updated On: April 20th, 2014] [Originally Added On: April 20th, 2014]
- CryptoCurrency Convention 4/9/14 - Xavier Hawk Permacredits - Video [Last Updated On: April 20th, 2014] [Originally Added On: April 20th, 2014]
- Does a cryptocurrency have the potential to revolutionize Ukraine? - Video [Last Updated On: April 20th, 2014] [Originally Added On: April 20th, 2014]
- Marscoin @ CryptoCurrency Convention NYC 4/9/14 - Lennart Lopin - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Vertcoin @ CryptoCurrency Convention NYC 4/9/14 - Joe Fisher - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- UltraCoin @ CryptoCurrency Convention NYC 4/9/14 - Reggie Middleton - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- iCoin @ CryptoCurrency Convention NYC 4/9/14 - Ryan Ridgeway - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Florincoin @ CryptoCurrency Convention NYC 4/9/14 - Joe Fiscella - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- PotCoin @ CryptoCurrency Convention NYC 4/9/14 - Nick Iversen - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- ZenithCoin @ CryptoCurrency Convention NYC 4/9/14 - Eddie Corral - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Bryce Weiner @ CryptoCurrency Convention 4/9/14 - - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Bitcoin Exchange CryptoRush Loses Millions of BlackCoin Cryptocurrency - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Brock Pierce, Entrepreneur "FireSide Chat" @ CryptoCurrency Convention NYC - 4/9/14 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- [OFFICIAL SPONSOR] Nick Spanos, Bitcoin Center NYC @ CryptoCurrency Convention 4/9/14 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- AuroraCoin @ CryptoCurrency Convention NYC 4/9/14 - David Lio - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- DigiByte @ CryptoCurrency Convention NYC 4/9/14 - Jared Tate - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Digitalcoin @ CryptoCurrency Convention NYC 4/9/14 - Andrew Davidson - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- BitAngels Co-Founder, David Johnson @ CryptoCurrency Convention NYC 4/9/14 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- The Future of Cryptocurrency, Investing, and Crowdfunding (Toronto #BitcoinExpo Highlights) #548 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- How to Set Up a Ripple (CryptoCurrency) Generating System! - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- --- The Great Debate --- Bitcoin vs Altcoin @ The CryptoCurrency Convention 4/9/14 - - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Popularcoin @ CryptoCurrency Convention 4/9/14 - Joshua Nold - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- TimeKoin @ CryptoCurrency Convention 4/9/14 - Michael Brown - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Infinitecoin @ CryptoCurrency Convention 4/9/14 - Loring Small - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Bitcoin vs. Political Power: The Cryptocurrency Revolution - Stefan Molyneux at TNW Conference - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- TNW - Stefan Molyneux - Money, Power and Politics The Cryptocurrency Revolution - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Coinnext Cryptocurrency Exchange Coming Soon - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- The Mises View: "Taxing Cryptocurrency" | Jeff Deist - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- mTrader.org - Cryptocurrency Mining System - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- CS 171 Final Project: Cryptocurrency Visualizations - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- Cryptocurrency Explained The Tech Guy 1046 - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- Know How 74 Cryptocurrency - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- CryptoCurrency of the World Unite! - Video [Last Updated On: May 9th, 2014] [Originally Added On: May 9th, 2014]
- BBT Presents: Ode to Cryptocurrency - Video [Last Updated On: May 13th, 2014] [Originally Added On: May 13th, 2014]
- Scryptify Cryptocurrency Video - Crypto Currency Exchanges - Video [Last Updated On: May 13th, 2014] [Originally Added On: May 13th, 2014]
- Bitpagar Cryptocurrency - Video [Last Updated On: May 16th, 2014] [Originally Added On: May 16th, 2014]
- How to Mine Cryptocurrency Safely - Video [Last Updated On: May 17th, 2014] [Originally Added On: May 17th, 2014]
- Bunnycoin - Innovative New Cryptocurrency - Video [Last Updated On: May 17th, 2014] [Originally Added On: May 17th, 2014]
- Nxt cryptocurrency platform: Proof of Stake mining system - Video [Last Updated On: May 18th, 2014] [Originally Added On: May 18th, 2014]
- Violincoin - The first cryptocurrency for musician - - Video [Last Updated On: May 21st, 2014] [Originally Added On: May 21st, 2014]
- The Cryptocurrency Store (Spanish/Espagnol) - Video [Last Updated On: May 22nd, 2014] [Originally Added On: May 22nd, 2014]
- Cryptocurrency: Get Mining! - Video [Last Updated On: May 22nd, 2014] [Originally Added On: May 22nd, 2014]
- How To Trade CryptoCurrency: Sign up to a safe and reliable exchange for trading CryptoCurrency - Video [Last Updated On: May 22nd, 2014] [Originally Added On: May 22nd, 2014]
- Cryptocurrency and Nonprofits with Eric Nakagawa - Video [Last Updated On: May 23rd, 2014] [Originally Added On: May 23rd, 2014]
- The Cryptocurrency Store - Video [Last Updated On: May 23rd, 2014] [Originally Added On: May 23rd, 2014]
- Bitcoin Song - The Cryptocurrency Store - Video [Last Updated On: May 25th, 2014] [Originally Added On: May 25th, 2014]
- Videoconferencia Cryptocurrency 201243946 - Video [Last Updated On: May 27th, 2014] [Originally Added On: May 27th, 2014]
- VideoCharla Jesus Ramos Cryptocurrency - Video [Last Updated On: May 27th, 2014] [Originally Added On: May 27th, 2014]
- Sudbury Cryptocurrency Conference, May 26th: Ethereum - Video [Last Updated On: May 30th, 2014] [Originally Added On: May 30th, 2014]
- 2014 Cubieboard 1, 2 - Mining Peercoins (SHA-256 based) Cryptocurrency - Video [Last Updated On: June 2nd, 2014] [Originally Added On: June 2nd, 2014]
- 2nd Salaries in CryptoCurrency - Video [Last Updated On: June 2nd, 2014] [Originally Added On: June 2nd, 2014]
- The Best Cryptocurrency Trading Platform - Video [Last Updated On: June 3rd, 2014] [Originally Added On: June 3rd, 2014]
- Cryptocurrency business forum - Video [Last Updated On: June 4th, 2014] [Originally Added On: June 4th, 2014]
- Cryptocurrency Opportunities in Southeast Asia | John KIM - Video [Last Updated On: June 7th, 2014] [Originally Added On: June 7th, 2014]
- Facebook Approves Cryptocurrency Tipping Apps -- Bitcoin Weekend In San Francisco - Video [Last Updated On: June 8th, 2014] [Originally Added On: June 8th, 2014]
- Wolf of Wall Street & Cryptocurrency w/ Patrick "PK" McDonnell - Video [Last Updated On: June 9th, 2014] [Originally Added On: June 9th, 2014]
- BankNote CryptoCurrency Review - Video [Last Updated On: June 13th, 2014] [Originally Added On: June 13th, 2014]
- CryptoCurrency 4 Housing for Father's Day! - Video [Last Updated On: June 13th, 2014] [Originally Added On: June 13th, 2014]
- Hyper CryptoCurrency Review - Video [Last Updated On: June 14th, 2014] [Originally Added On: June 14th, 2014]
- 0NE " EPIC " (HD dubstep mix) spot - a cryptocurrency with an Engine - Video [Last Updated On: June 15th, 2014] [Originally Added On: June 15th, 2014]
- Bitcoin,Litecoin mining rig cryptocurrency 2500W system, 6x 280x ASUS Beast 2014 - Video [Last Updated On: June 17th, 2014] [Originally Added On: June 17th, 2014]
- The Rundown Live #281 Tatiana Moroz (Chemtrails,CryptoCurrency,Anti-War) - Video [Last Updated On: June 19th, 2014] [Originally Added On: June 19th, 2014]
- Neutrality Coin New Alternative Cryptocurrency - Video [Last Updated On: June 20th, 2014] [Originally Added On: June 20th, 2014]
- Cryptocurrency Update - Buy Low, Sell High! - Video [Last Updated On: June 21st, 2014] [Originally Added On: June 21st, 2014]