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Elon Musk, Jeff Bezos, Kanye West and Obama are among many victims after massive Twitter hack aims to dupe Bitcoin (BTC) holders out of their cryptocurrency.

Elon Musk’s Twitter account was apparently hijacked today following a series of attacks on cryptocurrency-related accounts, including major exchanges such as Binance, and U.S.-based Coinbase, and Gemini.

Other handles compromised included the @Bitcoin Twitter account. Musk’s account pinned a tweet to his feed at 4:17pm ET which suggested that the entrepreneur would double any Bitcoin sent to a wallet address.

Musk has, in the past, discussed cryptocurrencies on his Twitter feed, suggesting that he owns 0.25 Bitcoins.

Scammers have been known to use this technique to dupe Bitcoin owners into sending irreversible transactions to a digital wallet.

Bill Gates’ account was also targeted as the attack continued.

While the attackers initially concentrated on crypto-native accounts, they expanded to technology leaders including Jeff Bezos of Amazon, and then to celebrities like Kanye West.

After ten minutes, the wallet address that was posted on Musk’s account already contained 3.64 Bitcoins, worth $34,498 at the time of writing.

Prior to Musk’s account being hacked, the wallet had only received 0.6527 Bitcoins after being posted on the hacked accounts of numerous exchanges.

Numerous other accounts within the cryptocurrency space had already been accessed by the apparent hack, including the largest exchanges in the space.

Binance and Coinbase have 2.2 million Twitter followers between them, although Musk’s account is an order of magnitude larger, with 36.9 million followers.

While the original tweet was soon deleted, a new version popped up again within seconds, suggesting that the attack was ongoing.

In other trending Bitcoin News today:

Glassnode Says ChainLink Buyers on Rampage As Crypto Asset Bursts Into Top Ten by Market Cap

A new Glassnode Insights report says exchanges have witnessed a significant surge in LINK deposits over the last few weeks, suggesting that early investors were incentivized to unload their ChainLink holdings as the cryptocurrency soared in value.

“On July 4th, the number of LINK exchange deposits reached an ATH, with ~5000 individual deposits totaling nearly four million LINK (worth almost $19 million at the time)… Then, on July 13th, LINK exchange deposits spiked again (albeit less intensely than the previous spike).”

Despite the surge of ChainLink deposits to crypto exchanges, on-chain metrics show buyers are outmuscling sellers. Glassnode says exchange withdrawals skyrocketed to its second-highest level, indicating that those who recently bought LINK plan to HODL.

The considerable growth in addresses that hold non-zero LINK balance supports the idea that market participants are bullish on the crypto token.

The metric posted a new all-time high this month, suggesting the rising number of LINK HODLers.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Tough day for us at Twitter. We all feel terrible this happened.We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened.

💙 to our teammates working hard to make this right.

— jack (@jack) July 16, 2020

Please speak up all you trolls that attacked me for telling you that $DIG was nothing but a huge scam. This chart will eventually describe 99% of all alt coins. But of course, your pet rock will not be one that flat lines pic.twitter.com/LI0EDDsNbf

— Peter Brandt (@PeterLBrandt) July 15, 2020

https://cointelegraph.com/news/elon-musk-twitter-account-apparently-hacked-by-bitcoin-thief

https://cointelegraph.com/news/who-owns-the-cryptoforhealth-domain-behind-the-twitter-hacks

https://www.bbc.com/news/technology-53425822

https://www.newsbtc.com/2020/07/16/bitcoin-bull-peter-brandt-99-of-altcoins-will-eventually-fall-towards-0/

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The Bitcoin price could establish a new all-time high above the $20,000 level in 2020 as it hits crossroads with a bias-defining indicator.

The benchmark cryptocurrency’s latest move uphill prompted it to retest its 20-weekly moving average on Wednesday.

The technical indicator is conclusively accurate when it comes to defining the BTC price long-term trends.

When Bitcoin (BTC) breaks above the MA, it tends to stage parabolic bull runs. Nevertheless, the best-case scenario shows Bitcoin attempting a 250 percent jump in the long-term.

That would bring its exchange rate close to $28,000.

In other Crypto news today, one of the biggest issues many people have with government is its complete lack of transparency and accountability, which in turn creates national populations with a high level of distrust in the ruling classes. With their immutable transaction ledgers, financial innovations, like Bitcoin and other crypto assets, could help restore some of this lost trust.

Today, presidential hopeful and antivirus pioneer John McAfee laid down a challenge to members of US Congress.

The controversial crypto asset proponent asked if any single member of the United States government would be willing to permanently record all their financial dealings on the blockchain.

In the below tweet, addressed as a challenge to Congress, McAfee asks if any member of the US government would be willing to have every financial transaction they ever make permanently recorded via blockchain technology.

This would allow the US public to see exactly how the apparent representatives of the people were spending their own and public money.

Such a system would enable voters to see if the government was truly acting in the people’s, or in fact their own, interests.

“A CHALLENGE TO MEMBERS OF GONGRESS. Are you willing to be tokenized on the Blockchain – meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement? If not, why?”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

A CHALLENGE TO MEMBERS OF GONGRESSAre you willing to be tokenized on the Blockchain – meaning every penny that comes into or leaves any of your accounts must be digital, and every penny placed on the blockchain so the American people can forever see its movement?

If not, why?

— John McAfee (@officialmcafee) January 7, 2020

https://www.newsbtc.com/2020/01/07/john-mcafee-lays-down-crypto-transparency-challenge-to-us-congress/

https://www.newsbtc.com/2020/01/08/crucial-indicator-shows-bitcoin-price-250-higher-in-2020/

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Veteran crypto trader Tone Vays says Bitcoin (BTC) should finish its recent correction relatively soon before going on a sharp rally to six figures.

“A $40,000 low coming in either next week or it could get dragged out… into early October, and then we break this area of $50,000 in mid- to late October. 

We break $65,000 by early November, and then we’re probably hovering above $100,000 by end of December. So I’m still holding to my view that we break $100,000 in December.”

In other trending Bitcoin News today: Cathie Wood predicts Bitcoin will surge to $500,000 in 5 years – and says Ark Invest’s confidence in Ethereum has shot up dramatically.

Ark Invest CEO Cathie Wood expects bitcoin to soar to $500,000 in five years, and her firm’s conviction in ether has strengthened tremendously, the star stock-picker said in a new interview with CNBC on Monday.

“Our confidence in ether has gone up dramatically as we’ve seen the beginning of this transition – from proof of work to proof of stake,” Wood said. “We’d still probably do 60% bitcoin, 40% Ether.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://cointelegraph.com/news/fidelity-lobbies-sec-to-approve-bitcoin-etf-in-private-meeting

https://cointelegraph.com/news/are-strong-technicals-enough-to-bring-bitcoin-price-to-100k-in-2021

https://cointelegraph.com/news/bitcoin-steals-47k-from-bears-as-critical-btc-price-resistance-crumbles