Coinbase says it blocked more than 1,000 customers from sending Bitcoin to Twitter hacker

Cryptocurrency exchange Coinbase said it blocked more than 1,100 of its customers from sending bitcoin to Twitter hackers who last week hijacked high-profile Twitter accounts including those of Elon Musk and Barack Obama to advertise a bitcoin scam.

Coinbase Chief Information Security Officer Philip Martin said that if Coinbase did not take this measure, these customers would have sent a total of 30.4 Bitcoin (currently equivalent to $278,000) to the hackers. It is worth noting that this amount is more than twice the actual amount collected by the hackers from the victims ($121,000).

Martin said that despite Coinbase’s actions, 14 customers still fell victim to the scam and sent about $3,000 worth of bitcoin to the hackers before their addresses were blacklisted.

The widespread attack on Twitter took place last Wednesday, with 130 accounts hijacked by hackers, including those of major figures such as Barack Obama, Bill Gates and Elon Musk.

Blockchain analysis companies say some of the stolen bitcoins have been transferred to some exchanges and bitcoin mixers.