Teen allegedly behind large Twitter hack eliciting Bitcoin facing 30 felony charges

Hacking Twitter is a Twitter problem, not Bitcoin

  • Hacking Twitter has nothing to do with Bitcoin

  • Donald Trump has nothing to do with the hacking of the social network

  • Binance is committed to protecting customers’ money

International consortium of news organizations, developing transparency standards.

Hacking of cryptocurrency exchanges is no longer unusual. Hackers have long learned to hack outdated site protection systems.

Hacking Twitter is a Twitter problem, not Bitcoin

But the large-scale attack on Twitter is an extraordinary event..

Hacking Twitter is a Twitter problem, not Bitcoin

How this will affect the bitcoin market and whether it will affect at all, BeInCrypto learned from the head of Binance in Ukraine Gleb Kostyrev.

– How account hacking will affect the price and behavior of bitcoin?

G.K .: At the moment, the market has not reacted in any way to the hacker attack, there are no significant fluctuations in the rate. 

When large banks are robbed, such incidents do not in any way affect the exchange rate of the national currency of the country in which the robbery occurred.. 

This incident has a negative impact on Twitter’s security rather than the cryptocurrency market. But we believe it has the potential to be the appeal for all social media platforms..

Hacking Twitter is a Twitter problem, not Bitcoin

Typically, crises like these push companies to reconsider their approach to vulnerable areas, in which case security becomes the weak point.. 

– Do you link the hacking of Twitter accounts with Donald Trump’s statement about tight regulation of social media??

G.K .: Not. These events are not related in any way..

– What actions can exchanges take to improve protection against remote attacks?

G.K .: Cases of fraud, phishing and hacking have a negative impact on the reputation of the entire cryptocurrency market, including the image of cryptocurrency exchanges. In the hands of criminals, cryptoassets can act as both a subject and an instrument of misconduct. This was also demonstrated by the case of Twitter..

As the world’s largest cryptocurrency exchange, Binance is certainly committed to keeping the cryptocurrency space safe in its broadest sense.. 

Binance is continuously working on security issues. For example, in the security infrastructure we have a division of Binance Sentry. 

This unit collects and processes information for risk management within the Binance security team. Drawing on a multi-faceted investigative experience, a team of professionals simultaneously uses blockchain and analyzes information from open sources to better understand the nature of cryptocurrency threats and assess the dangers that threaten us all as a community. Binance Sentry is committed to ensuring the reliability of Binance products and services, and enhancing the safety and well-being of customers and the entire Binance ecosystem..

We recently launched the #StaySAFU campaign, which aims to improve the security of our users. As part of the campaign, we share statistics on phishing and fraud in the crypto industry, common types of cryptocurrency fraud, social engineering and cyber attacks, ways to protect accounts and crypto savings, and most importantly, we train our users to avoid negative security incidents. 

This is just a small fraction of what we do to prevent attacks and protect our users..

Hacking Twitter is a Twitter problem, not Bitcoin

We call on the entire crypto community to follow our example and pay more attention to the security of the crypto space.

– Thank you for the interview


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