Here's What You Need to Know About the Bitcoin Scam That Hacked the Twitter Accounts of Jeff Bezos, Elon Musk, Bill Gates and Others

The social media platform's value took a big hit after a massive breach affecting celebrities, politicians and tech leaders.
Here's What You Need to Know About the Bitcoin Scam That Hacked the Twitter Accounts of Jeff Bezos, Elon Musk, Bill Gates and Others
Image credit: SOPA Images | Getty Images

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read

Crypto hackers took over the Twitter accounts of prominent users including Bill Gates, Kanye West, Elon Musk and Barack Obama.

“I am giving back to the community,” began a tweet that promised to double any Bitcoin donations made by followers. 

The Bitcoin wallet where followers were asked to send money received more than $118,000 before Twitter locked down all verified accounts to shut down the scam. “You may be unable to Tweet or reset your password while we review and address this incident,” the company explained in a tweet.

Related: 5 Biggest Credit Card Scams and What You Can Do to Protect Yourself

Jack Dorsey sent out the following tweet to address the situation:

Shares of Twitter dropped by more than 4 percent in the aftermath, losing approximately $1.3 billion in market value.

More from Entrepreneur

We created the Start Your Own Business (SYOB) course to help you get started on your entrepreneurial journey. You will learn everything you need to know about testing the viability of your idea, writing a business plan, raising funds, and opening for business.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur