Cryptocurrencies are on the rise and this makes hackers curious. Recently, the Substatum Twitter account was hacked by some unknown hacker.
It’s a company that deals in forwarding content from hosts in exchange for cryptocurrency as payment. Other than that, it also gives predictions regarding various cryptocurrencies that may go up or down in the coming days.
What Did The Hack Lead To?
After hacking the Substratum Twitter account, the hacker posted fake news that the altcoin was getting listed on Coinbase. This caused a disturbance among people who deal in altcoins and it led to a brief price spike.
Other than that, they also mentioned that more currencies will be added to the Coinbase.
Soon after this was posted on Twitter, there was a 15% rise in the prices which soon dropped down as the rumor was caught.
While the culprit hasn’t been caught yet, this is not the first time that someone hacked into a popular name to falsely impact prices of cryptos.
The Bottomline
Twitter accounts seem to be easy to hack as recently there were rumours of a major break in.
New players in the cryptocurrency business are the most affected because they are easily tricked into believing these fake rumors.
Cryptocurrency agencies should look into such matters and prevent such incidents from happening.
Let us know your thoughts below.