The media was publishing the prominent figures which were hacked is known as Bitcoin Hack on July 16. Usually, the hackers target high-profile accountable countries United States and non-U.S. Countries So as to get more benefits by the attacks. Moreover, the crypto-related Twitter hacks were wildly affecting the following accounts such as Binance, Ripple, Bitfinex, and CoinDesk. However, the Twitter hacks are not actually about crypto-related hacks but they indicate how these attacks are good for Bitcoin and other cryptocurrencies in general. Moreover, the profile of the crypto-affected projects was important to specify the core of the activities done. In order to see more, you can visit App
Beliefs of crypto users
Media is a prominent way to explore and spread the news among crypto users. All over the world. However, it does not imply that all news published by the media is accurate to it’s figures. There could be discrepancies involved in their telecasted matter. Moreover, as per the recent trend of the Twitter hack, some people consider it as a different prism. Some considered it as a red flag on Bitcoin where as others believed that it is usually beneficial for the image of Bitcoin. Whereas as per the other point of view, opinions may differ. Therefore, before comparing the other’s point of view, a few things should keep in mind.
Crypto scams due to which people have to lose their Bitcoins.
As per the records, there are about 11.6 BTC worth $106,500 and sent out 5.9 BTC worth $53,700 in 280 transactions were the count of those people who were targeted due to the crypto scam. As per these figures, the media team configured it as a Bitcoin scam. Although it was not actually a Bitcoin scam it was a bitcoin that was actually hacked by the hackers where no money has been lost, it was just hacked, as per the statement made by the Twitter platform.
Publicity for Bitcoin and Cryptocurrency.
The point is noticeable that there are almost 560,000 posts related to cryptocurrency were posted on crypto social media sites within 24 hours. And the news was published on the platforms like Twitter, YouTube, Reddit, and other means of crypto social media as well. Moreover, after every two hours of the hacks, there were about 100,000 people who posed the news about Bitcoin hacking, at the same time via different social media sites. Therefore, in revenge to this, some defenders oppose these opinions and consider it a good publicity stunt. Hence it is favorable for Bitcoin publicity because now more people are connected to the crypto space.
Decentralised social media
As we have seen in the Twitter attack, there should be a centralized system that would generate a distributed system that will not be able to target by the hackers. Although many of the accounts have been hacked which means either Twitter is a way as managed by the insider or some other means. Moreover, if there is a blockchain-based media exists, the account will be able to explore the nodes.
Wrapping up
Although some regulations should be imposed by the authorities at this moment so as to show the transparency of cryptocurrency transactions way out. But then a query was raised in mind when should the framework be built, that will support the required adoptions? Well, the answer is when developers and the crypto community will ensure the safety security and transparency of the functionalities occurring on the platforms then it would be beneficial. Moreover, the crypto community will now be more aware of the pros and cons of the public way out of the cryptocurrency.