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CEO of Binance exchange Changpeng Zhao (CZ) believes that this twitter hack becomes an advertisement for the bitcoin.


CEO of Binance exchange Changpeng Zhao (CZ) did a tweet about the yesterday hack of big celebrities' accounts. CZ is also one of the victims of this hack and his account also gets hacked. he tweeted that this big tweeter hacked can use a big advertisement campaign for the bitcoin.

This week on Wednesday lots of big personalities like Elon Musk. Bill Gates, Barack Obama, Kanye West, Changpeng Zhao etc and companies like Uber, Apple, etc accounts got hacked by some hackers at the one time and all these famous personality accounts started asking their followers that send them one thousand dollars in bitcoin they will give me two thousand dollars on the spot. It looks like a bitcoin giveaway scam. it confirms by tweeter that it was 130 total accounts that hackers hacked at the same time.


Binance CEO Changpeng Zhao in twitter thread explained his experience and warned people of such potential scams.Changpeng Zhao (CZ) is one of the very famous personality in the crypto industry on social media. he tweeted on this incident and explaining this. he tweeted about the hack saying, “Bitcoin hack?” No, bitcoin didn’t get hacked. The hackers want bitcoin because it’s valuable. When bank robbers want cash, it’s not called a “cash robbery.” It’s a bank robbery. “Bitcoin scam?” No, bitcoin didn’t scam anyone.” He added that this incident highlights a bigger issue. With the increased crypto adoption, existing social media platforms need to revamp their security. Internet platforms are no longer just for selfies, and it is used to transfer value, the CEO further noted.

Binance CEO concluding his thoughts on the Twitter hack wrote, “looking on the positive side, I believe this unfortunate incident is a net positive for crypto.” He said that it raises awareness of the need for stronger security on internet platforms, something we, the industry players, have been asking for a while. The incident also educates the public about how not to fall for online scams, even if your favorite idol asks you to donate or transfer funds, verify before you send, he noted. The Binance said the hack is, regardless, a massive “advertising” campaign for bitcoin. 

JULY 16, 2020