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Cryptocurrencies:  7,205Markets:  30,289Market Cap:  $350,102,869,06124h Vol:  $100,541,082,270BTC Dominance:  57.6%
Market Cap:  $350,102,869,06124h Vol:  $100,541,082,270BTC Dominance:  57.6%Cryptocurrencies:  7,205Markets:  30,289

Coinbase says it prevented over 1,000 customers from sending $280,000 worth of bitcoin to Twitter hackers

Coinbase says it prevented over 1,000 customers from sending $280,000 worth of bitcoin to Twitter hackers

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Coinbase says it prevented over 1,000 customers from sending $280,000 worth of bitcoin to Twitter hackers

The Block2 months ago
Published on July 20, 2020 12:50 GMT+0edited on July 20, 2020 07:04 GMT+0

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Crypto exchange Coinbase has said that it prevented little over 1,100 customers from sending bitcoin to Twitter hackers who hijacked high-profile accounts to advertise a bitcoin scam last week.

If Coinbase didn't take the step, these customers would have collectively sent 30.4 bitcoin (currently worth about $278,000) to hackers, the exchange's chief information security officer, Philip Martin, told Forbes. Notably, this amount is more than twice the actual amount ($121,000) that hackers collected via victims.

Despite Coinbase's action, its 14 customers still fell prey to the scam and sent around $3,000 worth of bitcoin to hackers before the exchange blacklisted their addresses, said Martin.

Gemini, Kraken, and Binance users also tried sending bitcoins to the addresses, but not as …