Soon after Modi’s Twitter account was hacked, attackers spread false material regarding Bitcoin’s popular acceptance and a 500 BTC giveaway.
The official Twitter account of Indian Prime Minister Narendra Modi was hacked earlier today, and the account was then used to spread false information regarding the widespread acceptance of Bitcoin (BTC) and the transfer of 500 BTC to Indian residents.
Modi said on Dec. 10 at a virtual event organised by US Vice President Joe Biden that technology such as cryptocurrency should be utilised to strengthen rather than destroy democracy:
“By cooperating, democracies may realise the ambitions of their populations and celebrate humanity’s democratic spirit.” While the long-awaited Lok Sabha Winter Session, a parliamentary gathering intended to discuss the legality of cryptocurrencies in the region, failed to resolve the government’s stance on crypto, hackers from unknown sources took control of the prime minister’s account, which has over 73.4 million followers, and declared Bitcoin to be legal tender.
While the attack occurred at 12 a.m. in India (about 4:00 p.m. ET), Twitter user Priya was among the several crypto aficionados who noticed the inauspicious tweet that read:
“India has declared Bitcoin to be legal tender. The government has purchased 500 BTC and is giving them to all citizens. Today is the day of the future!” Additionally, the message featured a link urging naïve investors to join up and collect their BTC portion. However, this is the second time Modi’s Twitter account has been hacked and exploited in connection with cryptocurrency frauds.
Soon after the attack, the unauthorised tweet was removed, and the Prime Minister’s official account verified the hack. According to Cointelegraph, hackers gained access to Modi’s Twitter account in September 2020. The hackers, under the pseudonym ‘John Wick,’ sent many tweets to the prime minister’s followers requesting that they “give generously to the PM National Relief Fund for Covid-19.”
The introduction of India’s crypto law aroused fresh fears about the potential for private coins to be banned. While the legislative meeting’s interpretation of the term ‘private’ was still pending, the absence of information created market fear.
To dispel rumours around the crypto bill debates, former Finance Secretary Subhash Garg, who also authored the bill, rejected the concept of outlawing “private cryptocurrencies” as a misunderstanding. Garg said in an interview with News 18:
“Perhaps the description of the crypto banknote was incorrect. It is deceptive to assert that private cryptocurrencies would be prohibited and to inform the authorities of this.”
Also Read: New Innovative Startup Is Bringing The Metaverse To One Billion Devices
Wallets